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 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:
Shared Custody – Redetermined Prior Period Benefits - McCallum v. The King, 2022 TCC 122
2023 Personal Indexation Amounts
CERB/CRB Eligibility – Prior Period Earnings:
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
October 31, 2022
Sources:
Canada Dental Benefit
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
CEBA Deadline Extension - for all CEBA loans
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
Revised Capital Dividend Election – T2054
US FBAR Penalties
Personal Services Business (PSB)
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:
Electronic Filing and Payments – Draft Legislation
Trust Reporting Rules – Draft Legislation
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:
Personal Services Business – CRA Education Initiatives:
Director Liability – Relationship Breakdown - Zvilna v. The Queen 2022 TCC 50
Employee Motor Vehicle Travel Expenses
June 29, 2022
Sources:
Class Action – Credit Card Fee Charge:
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 général), 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
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
April 27, 2022
Sources:
Draft Legislation (released subsequent to recording)
Principal Residence Exemption – Multigenerational Home - Salama c. Quebec Revenue Agency, 2022 QCCQ 718 (CanLII)
Real Estate Sales - Are They Taxable? What About My Principal Residence?
March 29, 2022
Sources:
Digital Adoption Program
Money Received from Offshore Accounts - Lao c. Quebec Revenue Agency, 2021 QCCQ 13153 (CanLII)
Underused Housing Tax (UHT) – Reporting Obligations
Accessing Former Spouse’s Tax Information
TaxTips.ca Resources
Canada Recovery Benefit (CRB, not CERB) Clawback
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
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
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
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
December 30, 2021
Sources:
COVID-19 Business Subsidy Update
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
2021 Economic and Fiscal Update
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