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2025 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 has seminars focusing on corporate and personal tax, with detailed source material for future reference provided for each seminar.

Life in the Tax Lane - June 2025

Life in the Tax Lane - May 2025

Life in the Tax Lane - April 2025

Life in the Tax Lane - March 2025

Life in the Tax Lane - February 2025

Life in the Tax Lane - January 2025

Life in the Tax Lane - June 2025

May 28, 2025

Topics:

New Government – Tax Changes

1. Canada Strong - Mark Carney's Plan
2. Canada Strong - Fiscal and Costing Plan
3. Prime Minister of Canada Mandate Letter

Personal Tax Rate Reduction

1. Government of Canada delivering middle class tax cut
2. T4127-JUL Payroll Deductions Formulas Effective July 1, 2025

Capital Gains Exemption – 2024 Assessment Errors

Late Breaking: CPA Canada has reported that CRA is aware of incorrect assessments related to the lifetime capital gains exemption and will take corrective action. No action is required by affected taxpayers.

CRA Online Mail for Businesses

Represent a Client – Employer Responsibility

TaxTips.ca Resources

2025 Tax Rate Reduction and First-Time Home Buyers' GST Rebate

Canadian Tax Calculators Updated for Reduced Tax Rate

Online Mail Becoming the Default for Businesses

Life in the Tax Lane - May 2025

April 30, 2025

Topics:

Delayed Tax Slips

Repeated Failure To Report Income – Returns Filed Concurrently:

1. CRA: False reporting or repeated failure to report income
2. T.I. 2024-1032121I7 Penalty for repeated omissions

Trust Reporting – CRA Guidance Update

Form T1135 – Multiple Penalties - Azmayesh-Fard v. The King, 2025 TCC 20

Transition To CRA Digital Mail For Businesses

Canadian Dental Care Plan

TaxTips.ca Resources

Auto-Fill of Tax Return (AFR) - Must Be Checked! Especially for 2024 Tax Returns!!

Late Filing of a Tax Return / Late Filing Penalties and Interest

Bare Trusts

Foreign Asset Reporting - Form T1135 Foreign Income Verification Statement

CRA My Business Account

Canada Dental Care Plan (CDCP)

Life in the Tax Lane - April 2025

February 28, 2025

Topics:

Gig Workers

1. Gig workers that didn't plan to report all gig income this tax season
2. CRA - Reporting Rules for Digital Platforms

Federal Carbon Tax

1. Canada Gazette Part II March 15, 2025
2. CBC News - Carney kills consumer carbon tax in first move as prime minister

Taxpayer Relief – Capital Gains Inclusion Rate

1. CPA Canada - Need to know: CRA announced penalty relief for taxpayers
2. CRA - Update on the filing of information returns

Late Breaking News: On March 21, 2025 – Prime Minister Mark Carney announced the cancellation of the proposed increase to the capital gains inclusion rate. 

Ombudsperson's Report on Bare Trust Rules

TaxTips.ca Resources

Canada Carbon Rebate - Final Payment April 2025

Canada Carbon Rebate for Small Businesses is Taxable

Capital Gains Inclusion Rate

Bare Trusts

Life in the Tax Lane - March 2025

February 28, 2025

Topics:

Personal Tax Filing Statistics

Reporting Rules For Digital Platform Operators

Delayed Filings:

1. CRA: Tax season starts on February 24! Here's what you need to start filing
2. CRA: Update on the filing of information returns
3. CPA Canada helps navigate tax uncertainty

Capital Gains:

1. Update on CRA's administration of the proposed capital gains taxation changes
2. CPA Canada helps navigate tax uncertainty

Charitable Contribution Extension

Individual Canada Carbon Rebate – Rural Supplement

1. CPA Canada helps navigate tax uncertainty
2. CRA: Canada Carbon Rebate (CCR) for individuals

TaxTips.ca Resources

Filing Your Personal Tax Return

Inclusion Rate (IR) for Capital Gains and Losses

Donation Tax Credit Line 34900

Carbon Rebate Supplement for Residents of Small and Rural Communities

Life in the Tax Lane - February 2025

January 30, 2025

Topics:

Uncertain and Unlegislated Proposals:

1. CPA Canada - Prorogation puts tax legislation in limbo
2. Here's how capital gains tax changes will work after Parliament prorogued
3. Proclamation Proroguing Parliament to March 24, 2025: SI/2025-9
4. Clarifying the CRA’s approach in administering the proposed tax measure to extend the 2024 charitable donations deadline

Select 2024 and 2025 Developments

Late Objections - Antrobus v. Canada, 2024 FCA 143

Automatic Tax Filing?

Donation by Spouse Prior to Marriage - 2024-1022711E5

Losses From Personal Scams - 2023-0994641I7

TaxTips.ca Resources

CRA Proceeding With Implementation of Inclusion Rate Increase Despite No Legislation Passed / Interest Relief

CRA Online Mail Service

Bare Trusts Not Required to File T3 Return for 2024 Unless Requested

Donation Tax Credit Line 34900 - Donation Deadline Extension

Life in the Tax Lane - January 2025

December 30, 2024

Topics:

GST/HST Temporary Holiday:

1. GST/HST Break
2. GST189 General Application for GST/HST Rebate

2024 Fall Economic Statement – Select Issues

T-slip Update:

1. CRA responds to questions from Canada's CPAs
2. Trust information returns - slips and summaries
3. T5 slip

CEWS Reviews:

1. Compliance snapshot — Canada Emergency Wage Subsidy for businesses
2. Investment Accounting Solutions Inc. v. The King - 2024 TCC 146

Underused Housing Tax – Select Issues:

1. Underused Housing Tax
2. CRA responds to questions from Canada's CPAs
3. T2062 Request by a Non-Resident of Canada for a Certificate of Compliance Related to the Disposition of Taxable Canadian Property
4. Voluntary Disclosures Program (VDP)

TaxTips.ca Resources

GST/HST "Vacation"

Working Canadians Rebate

Underused Housing Tax

Voluntary Disclosures Program

Prior Year Life in the Tax Lane Videos:

2024 Life in the Tax Lane

2023 Life in the Tax Lane

2022 Life in the Tax Lane

2021 Life in the Tax Lane

2020 Life in the Tax Lane

2019 Life in the Tax Lane

2018 Life in the Tax Lane

2017 Life in the Tax Lane

2015 & 2016 Life in the Tax Lane

Revised: May 30, 2025

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