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2022 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.
Life in the Tax Lane - December 2022
November 30, 2022
Sources:
2022 Fall Economic Statement and Bill C-32:
Extension of Time to Object - Wong v. The King, 2022 TCC 117
Underused Housing Tax:
- Bill C-8 Economic and Fiscal Update Implementation Act, 2021
- Bill C-8 Legislative Summary Part 2: Enactment of the Underused Housing Tax Act
- Preparing for the Underused Housing Tax (UHT) by Ben Berci, bakertilly
Shared Custody Redetermined Prior Period Benefits - McCallum v. The King, 2022 TCC 122
2023 Personal Indexation Amounts
CERB/CRB Eligibility Prior Period Earnings:
TaxTips.ca Resources
When are Gifts and Inheritances Taxable - Gifts from Employer
Canada's Underused Housing Tax (UHT)
2023 Tables of Provincial/Territorial & Federal Income Tax Rates
TFSA Contribution Rules and Limits
Life in the Tax Lane - November 2022
October 31, 2022
Sources:
Canada Dental Benefit
- Bill C-31 Cost of Living Relief Act, No. 2 (Targeted Support for Households)
- The Canada Dental Benefit - Backgrounder
- New benefits and increased credit payments are coming to help make life more affordable
CRA Representative Online Access
Assisted Compliance Initiative
The Proposed Trust Reporting Rules Bare Trust Arrangements
- the expanded trust reporting rules will be effective for Trust years ended after December 30, 2023 (i.e., ending December 31, 2023 and later) - deferred by one year by Bill C-32.
Tax Problems Arising From Bookkeeping - see page 12
TaxTips.ca Resources
CEBA Deadline Extension - for all CEBA loans
Life in the Tax Lane - October 2022
September 29, 2022
Sources:
Individual Supports Rent, Dental and GST Credit
CERB Eligibility Communication Breakdown - Matte v. Canada (Attorney General) 2022 FC 1196
Tips Collected Electronically EI And CPP
Personal Services Business CRA Education Initiative Update
- CRA - Tax implications for a personal services business
- CPA Canada - New CRA campaign focuses on personal services businesses: Are you ready?
Revised Capital Dividend Election T2054
US FBAR Penalties
- United States of America vs Alexandru Bittner
- Freeman Law: Flint Demonstrates the Risks in Trying to Make a Willful IRS Stresamlined Filing Non-Willful
TaxTips.ca Resources
Personal Services Business (PSB)
Life in the Tax Lane - September 2022
August 30, 2022
Sources:
GST/HST Input Tax Credit Reasonable Expectation of Profit - Stroud v. The Queen, 2022 TCC 86
Disability Tax Credit Form and Application Updated:
 | How to apply |
| CRA updates the digital application for the Disability Tax Credit |
Electronic Filing and Payments Draft Legislation
Trust Reporting Rules Draft Legislation
TaxTips.ca Resources
Life in the Tax Lane - August 2022
July 28, 2022
Sources:
Poker Playing Hobby or Business? Duhamel c. The Queen 2022 CCI 66 (French)
Required Travel Between Home and Work - Mason V. The Queen 2022 TCC 65
Disinheritance of Children:
- Important Considerations for the Disinheritance of Children - Elisa Rabello, McLennan Ross
- Campbell v. Ensminger, 2022 ABQB 330 (CanLII)
Personal Services Business CRA Education Initiatives:
Director Liability Relationship Breakdown - Zvilna v. The Queen 2022 TCC 50
TaxTips.ca Resources
Employee Motor Vehicle Travel Expenses
Life in the Tax Lane - July 2022
June 29, 2022
Sources:
Class Action Credit Card Fee Charge:
- Canadian Credit Card Class Actions
- Small businesses can claim up to $600 in class action settlement with Visa, Mastercard and banks
Immediate Expensing of CCA Prescribed Form - CPA Canada News May 19, 2022
CERB/CRB Denial for Owner-Manager of a Corporation Maltais c. Canada (Procureur g้n้ral), 2022 CF 817 (CanLII)
Working From Home Employer Considerations - Flexible work arrangements: tax, employment and immigration issues - Borden Ladner Gervais LLP (BLG)
Taxable Benefits - TI 2019-0801531E5 Identity Theft Shield Premiums
Source of Income Foreign Currency Straddles - Canada v. Paletta 2022 FCA 86
TaxTips.ca Resources
Life in the Tax Lane - June 2022
May 30, 2022
Sources:
Ban on Residential Real Estate Purchases by Non-Residents:
Retrofit Loans For Homeowners - TI 2021-0894121E5
Sale of Home - Lamothe c. Quebec Revenue Agency 2022 QCCQ 1527 (CanLII)
Late Wage and Rent Subsidy Claims CRA Discretion
CRA Collections Related to COVID-19 Programs CEBA
CRB Not Working Due to COVID-19? - Sid Seghir v. Canada (Attorney 2022 FC 466
TaxTips.ca Resources
Life in the Tax Lane - May 2022
April 27, 2022
Sources:
Draft Legislation (released subsequent to recording)
Principal Residence Exemption Multigenerational Home - Salama c. Quebec Revenue Agency, 2022 QCCQ 718 (CanLII)
TaxTips.ca Resources
Real Estate Sales - Are They Taxable? What About My Principal Residence?
Life in the Tax Lane - April 2022
March 29, 2022
Sources:
Digital Adoption Program
- New Canada Digital Adoption Program to help small businesses thrive in the digital economy - news release
- Canada Digital Adoption Program - details
Money Received from Offshore Accounts - Lao c. Quebec Revenue Agency, 2021 QCCQ 13153 (CanLII)
Underused Housing Tax (UHT) Reporting Obligations
- New filing and tax considerations for many Canadian real estate owners - yes, this can affect Canadians!
- Preparing for the Underused Housing Tax (UHT)
- News release August 6, 2021 from Department of Finance
Accessing Former Spouses Tax Information
TaxTips.ca Resources
Canada Recovery Benefit (CRB, not CERB) Clawback
Life in the Tax Lane - March 2022
February 28, 2022
Sources:
CRA Processing Issues Changes to Refundable Tax Credits
Principal Residence Exemption Education Letters
Working From Home Extended Relief
Proposed Changes to CRA Administrative Processes
Trusts Changes to Reporting Requirements
Immediate Expensing Incentive Proposed CCA Expansion
TaxTips.ca Resources
Enhanced Support For Teachers - cannot be claimed yet
Returning Fuel Charge Proceeds to Farmers - cannot be claimed yet
2021-2022 Home Office Expenses
Immediate Expensing of Capital Assets - cannot be claimed yet
Life in the Tax Lane - February 2022
January 28, 2022
Sources:
CPP Benefit Payment Impact of COVID-19: Globe and Mail - The case for deferring your CPP benefits is stronger than ever.
Employment Benefits COVID-19: CRA - Employer-provided benefits and allowances
Working from Home Extended Relief: CRA - How to claim home office expenses
Workers Compensation Accident at Home Office: National Post - Air Canada employee who fell on stairs in her home eligible for worker's compensation
Prescribed Rate Loans: Low interest rates make it a great time to trim taxes with income splitting
CRA Processes, Services and Focus Areas: CPA Canada / December 2021 Provincial Roundtable Questions and Answers
Expanded Trust Reporting Rules: CRA - Reporting Requirements for Trusts
TaxTips.ca Resources
Canada Pension Plan Retirement Benefit Rules
CPP Retirement Pension Calculator
Employee Parking Provided by Employer
Tax-Free Motor Vehicle Allowances
Employee Work Space in Home Expenses
Income Splitting with a Lower Income Spouse or Child
Life in the Tax Lane - January 2022
December 30, 2021
Sources:
COVID-19 Business Subsidy Update
- CRA Dec 21, 2021 News: COVID-19 Recovery Programs continue to provide support to Canadian businesses and organizations
- Tourism and Hospitality Recovery Program (THRP)
- Hardest-Hit Business recovery Program (HHBRP)
Post-Assessing Corporate Reviews Advertising And Promotions
2021 Economic and Fiscal Update
Valuation of Shares: Lauria v. The Queen, 2021 TCC 66
Parents Assisting Children With a Home Purchase
- Family disputes over gifted down payments on the rise: Law Firm
- Gifting for a down payment - perspective
TaxTips.ca Resources
2021 Economic and Fiscal Update
Prior Year Life in the Tax Lane Videos:
2021 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: January 22, 2024