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Personal Income Tax  ->  Life in the Tax Lane  -> Life in the Tax Lane 2021

2021 Life in the Tax Lane from Video Tax News (VTN)

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.

Video Tax News COVID-19 Updates and Resources for Accounting Professionals

Video Tax News has been diligent in keeping accounting professionals up to date on COVID-19 resources, including many videos.

For more COVID-19 information see our COVID-19 Financial Relief for Canadians page.

Life in the Tax Lane - April 2021

March 30, 2021

Sources:

CERS/CEWS Update

CRA Online Security

bulletMulti-factor authentication to access CRA login services
bulletCRA user ID and password have been revoked
Wedding Costs – Business Expense?
bulletSpiegel Sohmer Inc. vs. Quebec Revenue Agency 2021 QCCQ69 (CanLII)
bulletGrunbaum vs. H.M.Q., 91-352(IT)G (pdf)
Rental Properties – Repair Expense - DiCaita v. The Queen, 2021 TCC 5

Income Versus Capital Gains - Vern Krishna: Stock Traders Beware of Tax Traps: The Taxman Cometh

Taxpayer Relief – Financial Hardship - Shea v. Canada (Attorney General), 2021 FC 54

TaxTips.ca Resources

Canada Emergency Wage Subsidy (CEWS)

Canada Emergency Rent Subsidy (CERS)

T4A Tax Slip Errors re COVID Benefits

Capital or Expense - re rental property, business assets

Are Your Investment Gains and Losses Capital or Income?

Taxpayer Relief Provisions (Fairness Provisions)

Life in the Tax Lane - March 2021

February 26, 2021

Sources:

COVID-19 Benefit Recipients – Individual Interest Relief

CERB Issues

Capital Gains Inclusion Rate Changes – Who is Affected?

bulletRaising the capital gains tax would soak more than the rich - Jamie Golombek
bulletCorrecting Common Misunderstandings about Capital Gains Taxes - Fraser Institute
bulletGetting the facts straight on capital gains tax - Rhys Kesselman

Potential U.S. Tax Changes

Registered Disability Savings Plans – Letter Campaign

TaxTips.ca Resources

Filing Your Tax Return

Tax Return and Payment Filing Due Dates

Capital Gains and Losses

US Estate Tax May be Payable by Canadians

Registered Disability Savings Plans (RDSPs)

Life in the Tax Lane - February 2021

January 28, 2021

Sources:

Education and Training

bulletIncome Tax Folio S1-F2-C2 Tuition Tax Credit
bulletTuition and Canada Training Credit (CTC)

T4Summary – 10% Temporary Wage Subsidy

bulletForm T4SUM Summary of Remuneration Paid
bulletForm PD27 10% Temporary Wage Subsidy Self-identification Form for Employers
bullet10% Temporary Wage Subsidy for Employers

Correcting Form PD27 Submissions

Electronic Signatures – T183, T2200, T2200S

bulletEFILE news and program updates
bulletNew Home Office Expense Claim Methods

Relief Payments from Foreign Governments - TI 2020-0851071I7 Hong Kong Cash Payout Scheme

U.S. Corporate Beneficial Ownership Disclosure

bulletBill H.R. 6395: National Defense Authorization Act for Fiscal Year 2021
bulletNorton Rose Fulbright:  Who is a "beneficial owner"? 
bulletNational Law Review re New Corporate Transparency Act

U.K. Publicly accessible Registers of Beneficial Ownership

TaxTips.ca Resources

T4 Requirements and Filing

Life in the Tax Lane - January 2021

December 29, 2020

Sources:

CRA Focus on Video Games Streamers and Online Influencers

Canada Emergency Rent Subsidy (CERS) – Non-Arm's Length Rent:

bulletCRA - CERS Expenses you can claim
bulletCPA Canada - CRA webinar on CERS

Employees Working From Home During COVID-19

Residential Property Rebates - 1089391 Ontario Inc. v. The Queen 2020 TCC 129

Offshore Tax Informant Program Update - TI 2020-0839921C6 STEP 2020

Electronic Signatures

Sending CRA Legal Documents – Deceased Individuals

CEWS – Period 1-5 Deadline Issues

TaxTips.ca Resources

Information for Business Owners - video game streamers and online influences may need this!

Canada Emergency Rent Subsidy

Employee Work-Space-in-Home Expenses

Canada Emergency Wage Subsidy

Prior Year Life in the Tax Lane Videos:

2020 Life in the Tax Lane Videos

2019 Life in the Tax Lane Videos

2018 Life in the Tax Lane Videos

2017 Life in the Tax Lane Videos

2015 & 2016 Life in the Tax Lane Videos

 

Revised: April 15, 2021

 

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