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Life in the Tax Lane from Video Tax News - 2016 & 2015 Videos

We're pleased to be able to share these informative videos from Video Tax News.  They are not too long, cover a wide range of topics, and are quite entertaining!  Once you view them, you can search our site for information on these or other topics - see the search box at the top of any page on our site.  The links under each video provide the sources for the information in the video.

The videos are 10-minute rapid-fire discussions of select recent developments in the wonderful world of Canadian tax by the Video Tax News Team, for Canadian tax professionals.

Life in the Tax Lane - December 2016

November 30, 2016

Sources:

  1. Tax Measures Respecting Tips – Quebec

  2. Finance Committee Report

  3. Small Business Deduction (SBD) Multiplication – Associated Corporations - Bill C-29

  4. RRSP Overcontributions – T1-OVP - Hall v. The Queen, 2016 TCC 221

  5. Salary To Spouse - Major v. The Queen, 2016 CCI 243

  6. U.S. Voluntary Disclosure Program

TaxTips.ca Articles:

Tips and Gratuities - CPP and EI

Small Business Deduction

RRSP Contribution Limits

Life in the Tax Lane - November 2016

October 27, 2016

Sources:

  1. Principal Residence Exemption – Changes:

    1. Oct 3, 2016 Dept. of Finance News Release

    2. CRA - Reporting the sale of your principal residence for individuals (other than trusts)

    3. LinkedIn - The Principal Residence Exemption Just Changed - Joe Devaney

  2. Uber Search Warrants – Quebec

  3. Information Provided in an Audit - LexSage Professional Corporation

  4. Pre-Budget Consultations:

    1. Sep 26, 2016 Dept. of Finance News Release

    2. #Budget2017 Consultations - How to Participate

  5. Intercorporate Dividends - Technical Interpretation 2016-0627571E5 Application of proposed amendments to s. 55

TaxTips.ca Articles:

Principal Residence Exemption

Interest/Penalties on Late Returns and Late-Filed Elections

GST/HST Small Suppliers

Federal Budget 2017 Consultations

Life in the Tax Lane - October 2016

September 26, 2016

Sources:

  1. Shared-Custody – Canada Child Benefit Morrissey v. The Queen, 2016 TCC 178

  2. Eligible Educator School Supply Credit

  3. CRA Improved Service Initiative

  4. New T183 Information Return for Electronic Filing of an Individual's Income Tax and Benefit Return

  5. Nanny Payroll Calculator

  6. Employment Benefits (Technical Interpretation (2016-0629351E5) - reimbursement of moving expenses

Life in the Tax Lane - September 2016

August 29, 2016

Sources:

  1. Change in Legal Title - Technical Interpretation 2016-0647461E5 Beneficial Ownership

  2. Joint Tenancy - Sale of Property - 2016 BCCA 280 Zeligs v. Janes

  3. Books and Records - Church Envelopes - from CRA

  4. Mutual Fund Corporations - Switch Funds - Legislative Proposals July 29, 2016

  5. Lifestyle/Real Estate Audits:

    1. South China Morning Post - Leak reveals secret tax crackdown on foreign-money real estate deals in Vancouver

    2. How does the Canada Revenue Agency address non-compliance in the real estate sector

  6. BC Government News - Foreign Ownership of Residential Properties - July 26,  2016 news release

  7. Foreign Tax Credits – Support - Technical Interpretation 2016-0634941C6 2016 STEP - Q9 - Support for US FTC Claims

TaxTips.ca Articles:

Joint Ownership of Assets, Beneficial vs Legal Ownership

Records Retention - What Books and Records Must be Kept by an Individual or a Business?

Taxation of Fund Switching in Mutual Fund Corporations (Corporate Class Funds)

Life in the Tax Lane - August 2016

July 28, 2016

Sources:

  1. Travel Allowances - TI 2015-0613001E5 Payments received for work-related travel expenses

  2. Business or Personal Venture? - Pakzad v. The Queen, 2016 TCC 144

  3. Input Tax Credits – Start-up Phase - Living Friends Tree Farm v. The Queen, 2016 TCC 116

  4. Shareholder Benefits - Bonhomme v. The Queen, 2016 TCC 152

  5. Mail Strike – Timely filed Documents?​ (pdf)

  6. Retroactive Registration for GST/HST - Mongrain v. The Queen, 2015 TCC 303

TaxTips.ca Articles:

GST/HST Information

GST/HST Registration

Life in the Tax Lane – July 2016

June 27, 2016

Sources:

  1. CRA Electronic Services for Businesses - updated March 2023

  2. Small Business Deduction – Campgrounds

  3. In-Trust Accounts – Children

  4. CRA Information Requirements - Mendoza v. The Queen, 2016 TCC 112

  5. CRA Overpayment – CCTB and GST/HST​ - Crete v. The Queen, 2016 TCC 132

TaxTips.ca Articles:

Small Business Deduction

Attribution Rules re Gifts, Transfers, or Loans to a Spouse or Related Minor Child

Child and Family Benefit Programs Provided by Governments

Life in the Tax Lane – June 2016

May 27, 2016

Sources:

  1. Discussions with CRA – Caution! (pdf) R. v. Spears, 2016 NSPC 20

  2. Employment Expenses:

    1. Urquhart v. Canada, 2016 FCA 76 and

    2. Technical Interpretation 2015-0598481I7 Eligibility of Expenses

  3. CRA - German Social Security Pensions​

  4. Principal Residence Exemption – Multigenerational Homes​

  5. Principal Residence Exemption – Renting to a Child​

  6. Partnerships – Notice of Redetermination Receipt​ - Menzies v. The Queen, 2016 TCC 73

  7. U.S. Limited Liability Limited Partnerships – A Ticking Time Bomb?​

TaxTips.ca Articles:

Employment Expenses Line 229

Principal Residence Exemption

Life in the Tax Lane – May 2016

April 25, 2016

Sources:

  1. CRA Report to Parliament

  2. Budget 2016 – Small Business Deduction (SBD) Restrictions

  3. International – Information on Panamanian Accounts Hacked & Mandatory Disclosure of Tax Strategy Online:

    1. Panama firm's clients named in worldwide leak and

    2. Pinsent Masons: REquiremenet for large companies to publish their tax strategy

  4. Medical Expenses - Technical Interpretation 2015-0612331I7 re oocyte preservation

  5. Stock Option Proposed Changes Dropped

  6. Provincial Budgets – Alberta and Newfoundland and Labrador

TaxTips.ca Articles:

Federal 2016 Budget - Small Business Deduction

Eligible Medical Expenses

Alberta 2016 Budget

Newfoundland and Labrador 2016 Budget

Life in the Tax Lane – Apr 2016

March 29, 2016

Sources:

  1. Registered Education Savings Plan (RESP)

    1. TaxTips.ca RESP Withdrawals

    2. RESP Bulletin No. 1R1 - has been replaced with Bulletin No. 1R3

    3. January 27, 2016 Technical Interpretation (2015-0583031I7, Podor, K.)

  2. Independent Contractor vs. Employee – Trucker

    1. Tax Court of Canada case - Big Bird Trucking Inc. V. M.N.R., 2015 TCC 340

  3. Gross Negligence – Reliance On a Bookkeeper

    1. Tax Court of Canada case - Raymond v. The Queen, 2016 TCC 35

  4. Employee Travel Expenses – Long Commutes

    1. October 30, 2015 Technical Interpretation - 2015-0599631E5, Ryer, A.

  5. Insurable Earnings – Related Employee

    1. Tax Court of Canada case - Lalande v. M.N.R., 2016 TCC 33

TaxTips.ca Articles:

Registered Education Savings Plans (RESPs) - Be Aware and Beware!

Employee vs Self-Employed Independent Contractor

Employment Expenses Line 229

Employment Insurance (EI) Premiums are not Payable on Some Wages

Life in the Tax Lane – March 2016

February 29, 2016

Sources:

  1. Future Changes in CPP Benefits and Premiums?

  2. Principal Residence – Foreign Vacation Property - Income Tax Folio S1-F3-C2, Principal Residence Outside Canada, Paragraph 2.74.

  3. U.S. High Net Worth Purchases - 

    1. Miami Herald - Feds crack down on secret real estate deals in Miami-Dade and New York

    2. National Post - US wants to know who is buying luxury real estate in New Yor and Miami - and paying with cash

  4. Employment Insurance Benefits – While Working But Not Being Paid - Federal Court Judicial Review - Pattamestrige v. Canada (Attorney General), 2016 FC 114

  5. Home Accessibility Tax Credit - August 10, 2015 Technical Interpretation - 2015-0598591M4, El-Kadi, Randa

  6. Political Activities Review – Over

  7. Stock Options – Changes Coming? CBC News - New tax rules for stock options coming soon

  8. CRA Collection Policies- Information Circular 98-1R7, Tax Collection Policies

  9. Form T1135 – Jointly Held Property- February 3, 2015 Technical Interpretation - 2015-0610641C6, Agarwal, Lata

  10. Contest- Enter to win a “Tax Ninja” T-shirt.  Tweet your idea of what it takes to be a Tax Ninja and include #lifeinthetaxlane. Draw will be held 3/17/2016

TaxTips.ca Articles:

Principal Residence Exemption

Home Accessibility Tax Credit

Form T1135 Foreign Asset Reporting - Simplified for the 2015 Tax Year

Life in the Tax Lane – February 2016

January 25, 2016



Sources:

  1. Auto-Fill My Return

  2. Making Payments to CRA Online – Using a Debit Card

  3. CRA Online Mail

  4. Tips and Gratuities – CPP and EI - Tax Court case Andrew Peller Limited v. M.N.R., 2015 TCC 329

  5. Tax Deadlines – 2016 Leap Year:

    1.  Line 208 - RRSP and PRPP deduction

    2.  Marcil Lavallee - The leap year bites - Watch those deadlines!

  6. Taxable Benefits

  7. Life in the Tax Lane – Contest – Enter to Win! Share or like this video on Vimeo or Twitter. Draw will be held 2/2/16

TaxTips.ca Articles:

Auto-Fill My Return

CRA My Payment

Life in the Tax Lane – January 2016

December 30, 2015



Sources:

  1. Tax Rate Changes – Income Timing – VTN413(2)

  2. Department of Finance December 7, 2015 news release

    1. 2016 Charitable Donation Tax Credits

    2. Changes to the Taxation of Corporate Investment Income

    3. TFSA Annual Contribution Limit Change

  3. The Proposed Canada Child Benefit

TaxTips.ca Articles:

Federal Legislative Proposals Prior to 2016 Budget

Federal Tax Rate Changes

Donation Tax Credit

TFSA Contribution Limit

Life in the Tax Lane - December 2015

November 27, 2015

Sources:

  1. Changes Coming for Professional Corporations?

  2. Small Business Deduction (SBD) – CRA Project:  Combined Audits of Owner/Managed Companies

  3. Gifting Tax Shelter – Cash Portion Disallowed - Canada v. Castro, 2015 FCA 225 and Mariano v. The Queen, 2015 TCC 244

  4. Standby Charge – Employer-Branded Vehicles

  5. Revenue Quebec Receives Poor Review from Quebec Ombudsman

TaxTips.ca Articles:

Small Business Deduction

Gifting Tax Shelter Donations

Automobile Standby Charge Benefit

Life in the Tax Lane – November 2015

October 27, 2015


Sources:

  1. Travel for Medical Purposes - August 24, 2015 Technical Interpretation - 2015-0584181E5, Robertson, George A. CPA CMA 905-721-5196

  2. Services Provided in Canada - September 9, 2015 French Technical Interpretation - 2014-0563611E5, Roulier, Yannick

  3. Offshore Tax Structure – Isle of Man , CBC articles:

    1. KPMG offshore 'sham' deceived tax authorities, CRA alleges

    2. Federal probe of KPMG tax 'sham' stalled in Court

    3. KPMG tax 'sham' could lead to criminal investigation

  4. CRA Creditor Priority - The Taxman Cometh: CRA Priorities in Insolvency Proceedings, by Cox & Palmer

  5. Foreign Account Tax Compliance Act (FATCA)

    1. IRS Notice 2015-66

    2. The CRA complied with the September 30 FATCA deadline after the IRS advised that Notice 2015-66 did not apply to Canada, Stikeman Elliott

    3. Jurisdictions that have signed agreements

    4. IRS Begins Sending Individual Account Information to Foreign Countries, Wall Street Journal

    5. September 16, 2015 decision of the Federal Court (Hillis and Deegan vs. Attorney General of Canada and the Minister of National Revenue, T-1736-14)

    6. CRA Turns Over Information to United States on 155,000 Canadian Accounts

  6. Tax Liability for Former Spouse - Supreme Court of British Columbia case  - McInerey, Laass, HSBC Bank and Attorney General of Canada, 2015 BCSC 1708, Docket B1546870

Life in the Tax Lane – October 2015

September 25, 2015


Sources:

  1. Deducting One’s Own Labour - June 17, 2015 Technical Interpretation (2015-0580791M4, El-Kadi, Randa)

  2. Donating Appreciated Assets - Wealth Preservation Update - Charitable Giving

  3. Denied Charitable Donation -  May 12, 2015 Tax Court of Canada case - Mapish v. The Queen, 2015 TCC 122

  4. Partisan Political Activities - CRA - no longer available

  5. Extension to File Notice of Objection - August 26, 2015 Tax Court of Canada - Esmezyan v. The Queen, 2015 TCC 213

  6. Revival of a Dissolved Corporation July 7, 2015 Motion - 1455257 Ontario Inc. v. The Queen, 2015 TCC 173

TaxTips.ca Article:  Donating Shares or Other Capital Property

Life in the Tax Lane – September 2015

August 31, 2015


Sources:

  1. Contribute to a TFSA or Retain Cash in Corporation?

  2. Tax Advisor Penalties – Civil vs. Criminal - Guindon v. Canada, [2015] 3 SCR 3, 2015 SCC 41

  3. CRA Collections

  4. Laneway Houses:

    1. Canadian Tax Foundation: GST/HST Implications

    2. CRA:  GI 168 GST/HST Implications of the Construction of Secondary Housing Units

  5. Gift Cards – Meals and Entertainment?

  6. Self-Contained Domestic Establishment (SCDE)

  7. IRS Lawsuit

Life in the Tax Lane – August 2015

July 28, 2015

Sources:

  1. Intergenerational Wealth Preservation

  2. Blogger’s Business Losses - Berger v. The Queen, 2015 TCC 153

  3. CRA - Liaison Officer Initiative (LOI)

  4. Provincial Personal Tax Rates

  5. Residency of a Trust

  6. New Housing Rebate - Montemarano v. The Queen, 2015 TCC 151

  7. Input Tax Credits (ITCs) - Tan v. The Queen, 2015 TCC 121

  8. Risk of Deemed US Residence, Arnold Sherman