2017 Life in the Tax Lane from Video Tax News 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.
November 30, 2017
Sources:
- Tax-Free Savings Account
(TFSA) Audit Project - Technical Interpretation 2017-0693341C6 2017 STEP
- Employee Discounts on Merchandise
- CRA
Income Tax Folio S2-F3-C2, Benefits and Allowances Received from Employment
- CTV
News Fact check: Are employee discounts taxed, or not?
- Employer Provided Parking:
Toronto Sun: CRA taxes first responders for parking at work
- Tax Changes Year-End Dividends
- News release
July 18, 2017 : Minister Morneau Announces Next Steps in Improving Fairness in the Tax System by Closing Loopholes and Addressing Tax Planning Strategies
- New release
October 16, 2017 : Government Moves to Reduce Small Business Tax Rate and Support Fairness for the Middle Class
- The
Big Dividend at Year End? Some Considerations
- TCPC Passive Investment Income
- News release
July 18, 2017
- News release
October 18, 2017 : Targeted Tax Fairness Measures Will Protect Middle Class Small Business Owners
- CRA Enquiries Service Auditor General
2017 Fall Report
TaxTips.ca Article:
- Automobile
Taxable Benefits
October 30, 2017
Sources:
- CPP Survivor Benefits
- Advisor.ca
- Management Fees
- McLeod v. The Queen, 2017 TCC 192
- Investment Management Fees
- Technical Interpretation 2017-0722391E5
- Facebook what happens when you pass away?
Naming a legacy contact.
- U.S. Tax Changes - no longer available
TaxTips.ca Articles:
- Interest Expense on Money Borrowed to Purchase Investments - Can I Write it Off?
- CPP Survivor
Benefits
September 29, 2017
Sources:
1. Tax Consultation on Private Corporations
i. July
18, 2017 News Release by Department of Finance
ii. Video
Tax News commentary on the proposed changes to private corporate tax planning
iii. Petition
to extend consultation period for proposed changes to private corporation
taxation
TaxTips.ca Article:
- July
18 2017 Proposed Tax Changes for Private Corporations
August 30, 2017
Sources:
1. Tax Consultation on Private Corporations
i. July
18, 2017 News Release by Department of Finance
ii. Video
Tax News commentary on the proposed changes to private corporate tax planning
iii. Petition
to extend consultation period for proposed changes to private corporation
taxation
2. Taxi and Commercial Ride-Sharing Services
i. Excise
and GST/HST News No. 102 - Taxi and ride-sharing servicices
ii. GI-196
GST/HST and Commercial Ride-sharing Services
3. CRA Collects U.S. Disclosures Penalties
4. IRS Looking at Canadian Companies?
5. Business Loss or Personal Venture
- Renaud v. The Queen, 2017 TCC 88
6. Indirect Verification of Income (IVI) - no longer available
7. Charity Checklists
TaxTips.ca Articles:
- Business
Investment Loss
- GST/HST
Small Supplier - Mandatory Registrations
July 27, 2017
Sources:
1. Federal, Provincial and Territorial Finance Ministers Meeting
2. Proposed Tax Changes for Private Corporations:
- Video
Tax News commentary on proposed changes
- July
18, 2017 News Release by Department of Finance
3. Third Party Requests for Information
- Rona Inc. c. Canada (Revenu National), 2017 CAF 118
4. Distributions of Non-Taxable Amounts to a Non-Resident:
- Technical
Interpretation 2017-0691141C6IFA2017 Q.8: NR4 Reporting for non-taxable amount
- Technical
Interpretation 2015-0608201E5 Capital distribution from trust & NR4
5. TFSA Survivor Payments
- Technical Interpretation 2016-0679751E5 TFSA - Exempt Contribution
6. Managing Affairs Upon Intestate Death - CRA Forms RC549 - RC561
7. Reconciling Shareholder Draws
- Thompson v. The Queen, 2017 TCC 15
TaxTips.ca Articles:
- TFSAs - Death of the
TFSA Holder
- What Happens if
You Die Intestate (Without a Will)?
- Shareholder
Loans and Their Tax Implications
June 26, 2017
Sources:
- Registration of Tax Preparers
Program - STEP Canada CRA Roundtable, June 13, 2017
- Feedback on CRA
Audits - Have Your Say - no longer available
- Lost Book of
Clients - Martin v. Canada, 2015 FCA 204
- Voluntary Disclosure Program Proposed Changes
- Consulting With Canadians - Comment by August 8, 2017
- Small Business Deduction
- Canadian Tax Foundation Joint Committee Submission June 2017
TaxTips.ca Articles:
- Small
Business Deduction
- Voluntary
Disclosures Program
May 30, 2017
Sources:
- Taxable Benefit Parking Pass
- Smith v. The Queen 2017 TCC 62
- Employee Discounts On
Merchandise - Income Tax Folio S2-F3-C2, Benefits and Allowances Received from
Employment
- Income
vs. Capital - Foote v. The Queen 2017 TCC 61
- Distributions To Non-Resident Beneficiary PART XII.2
TAX - T4013 T3 - Trust Guide 2016
- Disposition Of Farm Property By A Non-Resident
- Billed-Basis Accounting
Budget 2017 FAQ
- Small Business Deduction Farmers And Fishers
TaxTips.ca Articles:
-
Employee
Parking Provided by Employer
- Are
Your Gains and Losses Capital or Income?
April 27, 2017
Sources:
1. Automobile Allowances
- Technical
Interpretation 2016-0674811C6 Automobile Allowances and Expenses
- Technical
Interpretation 2016-0674801C6 Allowance and Expenses of an
Automobile
2. CRA Project Third-Party Information Request
3. CRA Tax Tip The Sharing Economy
4. Renouncing U.S. Citizenship
- Moodys
5. Panama Papers Bank Accounts in Canada Being Closed
- Devry Smith Frank LLP
6. Gifted Home Home Buyers' Tax Credit
- Technical Interpretation 0674851C6
7. Retiring Partner Payments Pensionable Earnings
- Freitas v. The Queen, 2017 TCC 46
TaxTips.ca Articles:
-
Tax-Free
Motor Vehicle Allowances
- Employee
Motor Vehicle Travel Expenses
- First Time
Home Buyers' Tax Credit
March 30, 2017
Sources:
1. 2017 Federal Budget
2. Underground Economy
- Renovating or rebuilding your home? Protect yourself by getting it in
writing.
3. CRA's
New Fingerprinting Policy - could create travel problems for
accused tax evaders.
TaxTips.ca Articles:
-
Federal 2017 Budget
February 28, 2017
Sources:
Principal Residence Exemption
Fraud Refund Scam
Mutual Fund Taxation
- RC4169 Tax Treatment of Mutual Funds for Individuals
Investment Management Fees
Eservices at the CRA
- EFILE news and program updates
TaxTips.ca Articles:
- Principal Residence Exemption
- Tax Issues re Investing, and Tax Treatment of Different Types of Investments
January 25, 2017
Sources:
U.S. – Trump Proposals
re income tax and estate tax
Defacto Director: Koskocan v. The Queen, 2016 CCI 277 (French)
Employment Expenses – Cell Phone And Data Plan:
Technical
Interpretation 2015-0603631I7 Employment expense - deductibility cell
service plan
GST/HST Compliance Letters
Online Services – What's New For Tax Preparers
for the 2017 Tax-Filing Season?
TaxTips.ca Articles:
US Estate Tax May be Payable by Canadians
US Estate Tax Calculator
Employment Expenses Line
229
December 28, 2016
Sources:
Taxable Benefit Family Ski Pass
Technical
Interpretation 2015-0571471E5 Family Ski Pass (French)
Above,
translated to English by Google Translate
CRA:
Gifts, awards, and long-service awards
T5008 Duplicate Slips New Administrative Policy
Filing a T4a
Technical
Interpretation 2016-0652761C6 T4A filing (French)
Above,
translated to English by Google Translate
CRA:
RC4157 Deducting Income Tax on Pension and Other Income, and Filing the
T4A Slip and Summary
Qualified Disability Trusts (QDTs)
Technical
Interpretation 2016-0651751C6 Recover Tax of Qualified Disability Trust
(French)
Above,
translated to English by Google Translate
Technical
Interpretation 2016-0651741C6 Named beneficiary (French)
Above,
translated to English by Google Translate
CRA:
Graduated Rate Taxation of Trusts and Estates and Related Rules
(Archived)
Rollover of a Registered Pension Plan
Eligible Dependent Credit What is a Support Amount? -
Leinweber v. The Queen - 2016 TCC 253
TaxTips.ca Articles:
Are Gifts and Inheritances Taxable?
Includes gifts from employers.
Rollover of RRSP,
RRIF or RPP to a Registered Disability Savings Plan (RDSP)
Life in the Tax Lane
Videos 2015 & 2016
Revised: October 26, 2023
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