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2023 Life in the Tax Lane Videos TaxTips.ca
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Home  ->  Personal Income Tax  ->  Life in the Tax Lane  -> Life in the Tax Lane 2023

2023 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 - June 2023

May 31, 2023

Sources:

RRSP vs. TFSA vs. Tax-Free First Home Savings Account

Donation Planning – Life Insurance Product

CPP Enhancement

Withholdings on Rent to Non-Residents - 3792391 Canada Inc. v. The King

EI Parental Benefits – Change of Extended Benefits Election

  1. Canada (Attorney General) v. Johnson, 2023 FCA 49
  2. Canada (Attorney General) v. Pettinger, 2023 FCA 51
  3. Canada (Attorney General) v. Jeffers, 2023 FCA 52

COVID-19 Collections - CRA holding back refunds

Employee vs. Independent Contractor – Truck Drivers

  1. Transport Ajit inc. c. Agence du revenu du Québec, 2023 QCCQ 1443 (CanLII)
  2. Canadian trucking groups sound alarm over 'tax scam', call on CRA to step in

Featured seminars:

Monthly Tax Update | 12 hours | Pre-recorded

TaxTips.ca Resources

Which is Better - TFSA or RRSP - or FHSA?

Enhanced CPP and Enhanced QPP

Buying Real Estate From a Non-Resident

Employment Insurance (EI) for the Self-Employed

Employee or Self-Employed Independent Contractor?

Life in the Tax Lane - May 2023

April 28, 2023

Sources:

Shrinkflation – GST/HST Issues 

Mandatory Disclosure Rules

  1. Notice of Ways and Means Motion to introduce an Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023
  2. Bill C-47, Budget Implementation Act, 2023, No. 1

Intergenerational Business Transfers

Underused Housing Tax (UHT) – Various Issues

Alternative Minimum Tax (AMT) – Budget 2023

Featured seminars:

Monthly Tax Update | 12 hours | Pre-recorded

TaxTips.ca Resources

Federal 2023 Budget - March 28, 2023

Underused Housing Tax

Life in the Tax Lane - April 2023

March 31, 2023

Sources:

Relationship Status - Common Law or Not? Groulx c. Le Roi, 2023 CCI 21

Underused Housing Tax - Updates

  1. CHBA successful in getting administration-reducing/cost-saving interpretation on the Underused Housing Tax
  2. Letter from CRA to CHBA - Interpretation

TFSA - Carrying on a Business - Canadian Western Trust Company v. The King 2023 TCC 17

Employment Expenses - Sponsorship - Silber c. Agence du revenu du Québec, 2023 QCCQ 127 (CanLII) (French)

Legislation vs. CRA Interpretation

  1. Re CERB benefits - Bastien c. Canada (Attorney General), 2023 FC 222 (French)
  2. Re medical expenses other eligible dependants - Andrews v. The King, 2023 TCC 19

US FBAR Penalties - $10,000 Per Form or Account?

  1. Supreme Court Rules In Taxpayer's Favor On FBAR Penalties
  2. Supreme Court of the United States Bittner v. United States

TaxTips.ca Resources

Canada's Underused Housing Tax

Tax Free Savings Accounts (TFSAs) - Taxes Payable in a TFSA

Medical Expense Tax Credit

Life in the Tax Lane - March 2023

February 27, 2023

Sources:

Underused Housing Tax Guidance

  1. Underused housing tax technical information
  2. Underused Housing Tax – Quick Reference Chart

Unreported Capital Trades Included on a T5008 - Roy v. Canada (National Revenue), 2022 FC 1704 (CanLII) (French)

Recurring Conversion Between Personal and Income Earning Use - TI 2022-0942161C6 Special rules on changes of use (French)

Updates to CRA Online Portals

  1. About My Trust Account
  2. Confirm my representative's authorization request

Foreign Tax Credit Verification (Question 11 of CPA Canada/Provincial Accounting Bodies Questions to CRA – 2022 (released January 12, 2023)) (pdf)

TaxTips.ca Resources

Canada's Underused Housing Tax (UHT)

Reporting Foreign Transactions on Your Tax Return

Change in Use of Real Estate

T5008: No In Kind Transfers, Proceeds Not Correct

Life in the Tax Lane - February 2023

January 31, 2023

Sources:

Underused Housing Tax

  1. Underused Housing Tax - Quick Reference Chart from Video Tax News
  2. Underused Housing Tax on Canada.ca

Statute-Barred Corporate Tax Returns - TI 2019-0810061I7

Wage and Rent Subsidies – Partnership Income and Reviews - TI 2021-0878941E5

Relationship Breakdown – Written Separation Agreement - Vohra v. The King - 2022 TCC 165

Canada Child Benefit – Shared-Custody Arrangement - Scott v. The King, 2022 TCC 131

TaxTips.ca Resources

Canada's Underused Housing Tax - This Affects Canadians Also!

Life in the Tax Lane - January 2023

December 29, 2022

Sources:

2023 Automobile Limits

Individual Instalment Interest – Unexpected Income:

  1. Required tax instalments for individuals
  2. Gagnon v. The King 2022 TCC 139

Tax Loss Selling – Corporations by Dave Gautier, Crowe MacKay LLP

COVID-19 Suspicious/Fraudulent Claims - Office of the Auditor General of Canada Report 10

Tips And Gratuities – GST/HST - 1410109 Ontario Ltd. v. The King, 2022 TCC 141

EFILE Revocation - Virgen v. Canada (Attorney General) 2022 FC 1544

TaxTips.ca Resources

Passenger Vehicle Expense Limitations - loan interest, lease cost, capital cost maximums

Tax-Free Motor Vehicle Allowances

Automobile Operating Cost Benefit

Automobile Sales People Operating Cost Benefit

Prior Year Life in the Tax Lane Videos:

2022 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: May 31, 2023

 

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