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Home  ->  Personal Income Tax  ->  Life in the Tax Lane  -> Life in the Tax Lane 2022

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.

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 - September 2022

August 30, 2022

Sources:

GST/HST Input Tax Credit – Reasonable Expectation of Profit - Stroud v. The Queen, 2022 TCC 86

Accelerated Investment Incentive Property – Renovations 2019-0819951E5 AIIP - renovations to property

Capital Cost Allowance – Retroactive Adjustment - St. Benedict Catholic Secondary School Trust v. Canada 2022 FCA 125

Disability Tax Credit – Form and Application Updated:

bulletHow to apply
bulletCRA updates the digital application for the Disability Tax Credit

Electronic Filing and Payments – Draft Legislation

Trust Reporting Rules – Draft Legislation

TaxTips.ca Resources

Capital Cost Allowance

Disability Tax Credit

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:

  1. Important Considerations for the Disinheritance of Children - Elisa Rabello, McLennan Ross
  2. Campbell v. Ensminger, 2022 ABQB 330 (CanLII)

Personal Services Business – CRA Education Initiatives:

  1. Personal Services Businesses Webinar
  2. Stakeholder letter from CRA re personal services businesses

Director Liability – Relationship Breakdown - Zvilna v. The Queen 2022 TCC 50

TaxTips.ca Resources

Employee-Owned Motor Vehicles

Employee Motor Vehicle Travel Expenses

Wills & Estate Planning

Personal Services Businesses

Life in the Tax Lane - July 2022

June 29, 2022

Sources:

Class Action – Credit Card Fee Charge:

  1. Canadian Credit Card Class Actions
  2. 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 gιnιral), 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

Immediate expensing of CCA

Life in the Tax Lane - June 2022

May 30, 2022

Sources:

Ban on Residential Real Estate Purchases by Non-Residents:

  1. Federal 2022 Budget
  2. Bill C-19, Budget Implementation Act, 2022, No. 1

Underused Housing Tax – Traps

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

Underused Housing Tax

Canada Greener Homes Loan

Principal Residence Exemption

Life in the Tax Lane - May 2022

April 27, 2022

Sources:

Federal Budget 2022

Draft Legislation (released subsequent to recording)

Principal Residence Exemption – Multigenerational Home - Salama c. Quebec Revenue Agency, 2022 QCCQ 718 (CanLII)

TaxTips.ca Resources

Federal Budget 2022

Real Estate Sales - Are They Taxable?  What About My Principal Residence?

Principal Residence Exemption

Life in the Tax Lane - April 2022

March 29, 2022

Sources:

Recovery of CERB Overpayments

Costs for COVID-19 Protocols

Digital Adoption Program

  1. New Canada Digital Adoption Program to help small businesses thrive in the digital economy - news release
  2. 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

  1. New filing and tax considerations for many Canadian real estate owners - yes, this can affect Canadians!
  2. Preparing for the Underused Housing Tax (UHT)
  3. News release August 6, 2021 from Department of Finance

Accessing Former Spouse’s Tax Information

TaxTips.ca Resources

Canada Recovery Benefit (CRB, not CERB) Clawback

Eligible Medical Expenses

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

Principal Residence Exemption

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

Worker’s 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

  1. CRA Dec 21, 2021 News: COVID-19 Recovery Programs continue to provide support to Canadian businesses and organizations
  2. Tourism and Hospitality Recovery Program (THRP)
  3. 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

  1. Family disputes over gifted down payments on the rise: Law Firm
  2. 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: September 21, 2022

 

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