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 near 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 presented by the Video Tax News Team, for Canadian Tax and Financial Professionals.
November 28, 2019
Sources:
Rental Property – Source of Income - Crocket v. The Queen 2019 TCC 203
Penalty – Repeated Failure to Report Income - Greenstreet v. The Queen 2019 TCC 237
Agency Relationship - Lohas Farm Inc. v. The Queen 2019 TCC 197
Represent a Client Updates – Deceased Taxpayers - CRA Digital Services Update - downloadable Power Point presentation - no longer available
Transparency of Corporate Ownership:
- Tracking of Corporate Ownership Information - Canada Business Corporations Act (CBCA)
- Beneficial Ownership Disclosure - Canada Business Corporations Act (CBCA)
- United Kingdom - Companies House - Search for corporate information
October 25, 2019
Sources:
- Payroll Audits - TI 2019-0798351C6 STEP 2019 - Q15 - CPP/EI Rulings
- Charitable Registration Process – Online Only
- U.S. Expatriates – New Relief Procedures - IRS announcement
TaxTips.ca Articles:
- Specified Investment Business (SIB)
- Employment Expenses Line 229
September 26, 2019
Sources:
- Property Flipping – Income or Capital - Wall v. The Queen, 2019 TCC 168
- Employment Expenses – Commuting? - MacDonald v. The Queen, 2019 TCC 169
- Shared-Custody Parents – Equal or Near Equal - Dept of Finance August 29, 2019
TaxTips.ca Articles:
- Real Estate Sales - Are They Taxable? What about my Principal Residence?
- Employee Motor Vehicle Travel Expenses
- Government Child and Family Benefit Programs
August 29, 2019
Sources:
- Director’s Personal Liability for Negligence - Hall v Stewart, 2019 ABCA 98 (CanLII)
- TFSA Overcontribution
- Technical Interpretation 2017-0732391E5 Income on TFSA over-contributions
- Gekas v. Canada (Attorney General), 2019 FC 1031
- Overdrawn Shareholder Loans - Mazzaferro v. The Queen, 2019 TCC 147
- Represent a Client – New Format for Individual Accounts
- IRS Compliance Campaign – Former Participants of U.S. Offshore Voluntary Disclosure Program
TaxTips.ca Articles:
- Tax Free Savings Accounts (TFSAs)
- Shareholder Loans and their Tax Implications
August 6, 2019
Sources:
- Taxable Benefit – Parking Pass - Smith v. Canada, 2019 FCA 173
- Stock Option Taxation Changes - Department of Finance June 17, 2019
- Condo Sale – Income or Capital? - Bygrave v. The Queen, 2019 TCC 138
- First-Time Home Buyer Incentive (FHBI)
- Taxpayer Relief – T1135 - Moore v. The Queen, 2019 TCC 141
TaxTips.ca Articles:
- Employee Parking Provided by Employer
- Federal 2019 Budget - Employee Stock Options
- Real Estate Sales - Are They Taxable? What About My Principal Residence?
- First-Time Home Buyer Incentive
- Foreign Asset Reporting - Form T1135 Foreign Income Verification Statement
June 26, 2019
Sources:
- Virtual Currency – Taxable Supply?
- Disability Tax Credit – Fee Restrictions
- Canada Gazette Part 1 June 1, 2019
- Canada Revenue Agency - Disability Advisory Committee
- Interest Deductibility - Income Tax Folio S3-F6-C1
- New Housing Rebate – Primary Place Residence - L'Écuyer v. the Queen, 2019 TCC 41
- CRA Service Standards 2019-2020
TaxTips.ca Articles:
- Barter and BitCoin Transactions Can Result in Taxable Income, and PST and GST/HST Payable
- Disability Tax Credit (DTC) Promoters Restrictions Act Regulations
- Interest Expense on Money Borrowed to Purchase Investments - Can I Write it Off? - including Disappearing Source rules
- GST/HST Rebate for New Housing Purchases and Substantial Renovations
May 30, 2019
Sources:
- Zero-Emission Vehicle Purchase Incentive
- Transport Canada Zero-emission Vehicles
- Transport Canada - List of eligible vehicles under the iZEV Program
- Health Spending Accounts – CRA Cautions
- Taxable Benefits – Clothing Reimbursement - TI2018-0775391E5
- Administrative Updates from CRA
- Donation of Credit Card Loyalty Rebates
- TI2017-0704951E5 Rebate Donation Program
- TI2018-0761161E5 Reward Donation Program
TaxTips.ca Articles:
- Zero-Emission Vehicle Incentive Program
- Private Health Services Plan or Health Spending Account
- Employment Expenses - Employee Clothing and Footwear
April 29, 2019
Sources:
- Project Bitcoin Investors
- Forbes: Bitcoin investors targeted with audits by CRA
- CRA Information for crypto-asset users and tax professionals
- Rebate Incentive Income - Mikhail v. The Queen, 2019 TCC 49
- Data Breaches - Was Your Information Compromised?
- Taxpayer Relief - Financial Hardship - Pathak v. Canada (National Revenue), 2019 FC 252
TaxTips.ca Articles:
- Barter and BitCoin Transactions - can result in taxable income and PST and GST/HST payable
- Taxpayer Relief Provisions (Fairness provisions)
March 29, 2019
Sources:
- Zero-Emission Vehicles – Budget 2019
- T4A Slips
- RC4157 Deducting income tax on pension and other income, and filing the T4A slip and summary
- CRA T4A webinar (not yet available as of March 29, 2019)
- Nominal Consideration - TI2018-0773301E5
- Repairs and Maintenance
- Folio S3-F4-C1, General Discussion of Capital Cost Allowance
- Housing Measures – Budget 2019
- Shared Equity Mortgages (SEM)
- Canada Training Credit – Budget 2019
TaxTips.ca Articles:
- Federal 2019 Budget
- Capital Cost Allowance for Zero Emission Vehicles - includes link to Budget 2019 information on the federal purchase incentive for zero emission vehicles
- First-Time Home Buyer Incentive
- Gifts and Inheritances - When are they taxable?
- Property Rental - Capital vs Expense
February 27, 2019
Sources:
- Allowances or Expense Reimbursements - TI 2017-0682891E5 Taxable Benefits
- Valuation – Normal Reassessment Period - Lewin Estate v. The Queen 2019 TCC 21
- OAS Deferral – Retroactive Application - Pike v. Canada (Attorney General) 2019 FC 135
- Dedicated Telephone Service for Income Tax Service Providers
- GST/HST New Housing Rebate
- Sozio v. The Queen 2018 TCC 258 re GST/HST New Housing Rebate
- Poirier v. The Queen 2019 TCC 8 re GST/HST New Rental Property Rebate
TaxTips.ca Articles:
- Climate Action Incentive and other provincial measures
- Tax-Free Motor Vehicle Allowances
- Old Age Security Pension and OAS Clawback
- GST/HST Rebate for New Housing and Substantial Renovations
January 29, 2019
Sources:
- Principal Residence Exemption – Large Lots: Makosz v. The Queen, 2018 TCC 250
- Maximum Deductible Automobile Allowances – 2019
- Incentive Payment for Travel to Pick-up Site: McEachern v. The Queen, 2018 TCC 232
- Shared Custody – Canada Child Benefit: Lavallee v. The Queen, 2018 TCC 213
- CPA Canada – Full Tax System Review Needed
TaxTips.ca Articles:
- Principal Residence Exemption
- Automobiles, Passenger Vehicles and Motor Vehicles - Tax Issues
- Tax-Free (or Reduced Tax) Employee Benefits
December 28, 2018
Sources:
- TFSA – Contributions by Third Parties:
- Technical Interpretation 2018-0739761E5 TFSA contributions
- Technical Interpretation 2017-0731541E5 TFSA contributions
- Expenses After Business Income Ceases: Tournier v. The Queen, 2018 TCC 229
TaxTips.ca Articles:
- Tax-Free Savings Account - 2019 contribution limit $6,000
- What Expenses Can I Write Off Against My Business Income?
- Records Retention - What Books and Records Must be Kept by an Individual or a Business?
2018 Life in the Tax Lane Videos