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2018 Life in the Tax Lane from Video Tax News

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 Professionals.

Life in the Tax Lane - December 2018

November 29, 2018

Sources:

- Federal Fall Economic Statement – CCA Changes

- Manufacturing and Processing - TI 2018-0768241E5 CCA for Equipment Used to Produce Biofuels

- Corporate Passive Investment Income – Small Business Deduction Grind:

- TI 2018-0771871E5 Passive Income Reduction and the Business Limit

- Bill C-74, Budget Implementation Act, 2018, No. 1

- CRA Audits – Liquor Sales

- Indexation for Personal Tax Rates and Benefits Rates

- Carbon Tax and Climate Incentive Payments - Department of Finance Oct 23, 2018

TaxTips.ca Articles:

- Tax-Free Savings Account - 2019 contribution limit $6,000

- Personal Tax Rate Tables - thresholds indexed for 2019

- Non-Refundable Personal Tax Credits - indexed for 2019

- 2018 Federal Fall Economic Statement

Life in the Tax Lane - November 2018

October 26, 2018

Sources:

- Shareholder Benefit – Space Trip - Laliberté v. The Queen 2018 TCC 186

- Child Care Expenses – What is an eligible amount? - Kwan v. The Queen 2018 TCC 184

- Changes to Employment Insurance (EI) – Employment & Social Development Canada resources:

- New five-week parental sharing to start in March 2019

- Support for families with critically ill loved ones

- Backgrounder: Information for EI claimants

- Increase to CPP: Phase-In Details - Canada Gazette Vol. 152, No. 39 - see page 31 of the 70 page pdf

- Independent Contractor vs Employee - 1065438 Alberta Ltd. v. M.N.R. 2018 TCC 191

TaxTips.ca Articles:

- Line 214 Child Care Expenses

- Canada Pension Plan (CPP), Quebec Pension Plan (QPP) and Employment Insurance (EI)

- Are You an Employee or a Self-Employed Independent Contractor?

Life in the Tax Lane - October 2018

September 27, 2018

Sources:

- Donation of Wine – Valuation - McCuaig Balkwill v. The Queen 2018 TCC 99

- Donation of Life Insurance - Crowe Soberman™ Your Legacy Through Life Insurance

- Tax on Split Income – Excluded Business TI 2018-0761601E5

- Airbnb – Tax collection and remittance by Airbnb in Canada

- GST/HST on Online Advertising - CTV News: Facebook, Instagram to charge GST on ads by mid-2019

- Voluntary Disclosures Program – Number of Applications - CBC News

- Working While on Employment Insurance - Employment and Social Development Canada

TaxTips.ca Articles:

- Donations Tax Credit

- Donating Capital Property

- Donations in Year of Death

- Bill C-74 Budget Implementation Act, 2018 - includes TOSI legislation

- Voluntary Disclosures Program

Life in the Tax Lane - September 2018

August 30, 2018

Sources:

- CRA Project – Vehicle Expenses

- Non-Partisan Political Activities of Charities:

- Canada Without Poverty v. AG Canada, 2018 ONSC 4147 (CanLII)

- Statement by the Minister of National Revenue and the Minister of Finance on the Government's commitment to clarifying the rules governing the political activities of charities

- CRA GST/HST Debt Collection Priority: Canada v. Toronto-Dominion Bank, 2018 FC 538

- Active Business Vs. Property Income – Music Royalties: Rocco Gagliese Productions Inc. v. The Queen, 2018 TCC 136

- Business Expenses – Are They Reasonable?: Harris v. The Queen, 2018 TCC 148

- Cannabis – U.S. Travel Issues:

- Canadians run afoul of U.S. law over interests in American cannabis producers

- Cannabis Legalization in Canada – Border Crossing Issues with U.S. - Commentary from the Canadian Senate

- Cannabis in Canada - Get the facts

TaxTips.ca Articles:

- Goods and Services Tax (GST) & Harmonized Sales Tax (HST)

- What Expenses Can I Write Off Against My Business Income?

- Automobiles, Passenger Vehicles and Motor Vehicles - Tax Issues

Life in the Tax Lane - August 2018

July 30, 2018

Sources:

- Extended Reassessment Period – Budget 2018 Proposal

- Individual Tax Refund Beyond 10 Years

- Employment Scam - Banks have 90 days to return bad cheques

- Corporate Owned Life Insurance - TI 2018-0745811C6 CALU 2018 Q2 - CDA credit - joint ownership

- Time Limit For Input Tax Credit (ITC) Claims - International Hi Tech Industries Inc. v. The Queen 2018 TCC 107

- Sales To U.S. – Sales Taxes May Apply

- Supreme Court of the U.S. South Dakota v. Wayfair, Inc. et al, 585 U.S. (2018)

- New York Times - Supreme Court Widens Reach of Sales Tax for Online Retailers

- Dentons - Stunning!! The US Supreme Court in a 5:4 decision abandons Quill!! 50 years of precedent gone in a "poof"!!

- Cadesky Tax - U.S. Sales Tax - Update: The Streamlined Sales and Use Tax Agreement (SSUTA)

- Kingston Ross Pasnak LLP - U.S. Supreme Court Changes the U.S. State and Local Tax Landscape - article no longer available.

- Provincial Matters

- Ontario cap and trade

- BC government cracking down on hidden ownership of real estate

TaxTips.ca Articles:

- Changing Your Tax Return

- Federal draft legislative proposals released for comment from Canadians

- Goods and Services Tax (GST) & Harmonized Sales Tax (HST)

Life in the Tax Lane - July 2018

June 27, 2018

Sources:

- Bill C-74

- Tax on Split Income (TOSI) – CRA comments on Excluded Shares

- Director Liable for Corporate Income Taxes on Liquidation - Groscki v. The Queen, 2017 TCC 249

- Business Or Personal? - Barbour v. The Queen, 2018 TCC 77

- Meals and Entertainment – Some Issues -TI 2017-0714381E5

- Retiring Partner Payments – Pensionable Earnings - Freitas v. Canada, 2018 FCA 110

- IRS Launches Multiple Non-Resident Projects

TaxTips.ca Articles:

- What Expenses Can I Write Off Against My Business Income?

- What Meal and Entertainment Costs Can I Deduct?

- Who Has to Pay CPP or QPP Contributions?

- 2018 Federal Budget

Life in the Tax Lane - June 2018

May 29, 2018

Sources:

- Taxable Benefits – Social Activities - TI 2017-073125117

- Interest Deductibility – Return of Capital - Van Steenis v. The Queen, 2018 TCC 78

- CRA Project – Class 10 Vehicle Additions

- CPP Death Benefit – Automatic Upload

- Golf Tournament – Gifting Receipts

- Donation Receipts – New Information Required

- RRSP Overcontribution – Relief - Pouchet v. Canada 2018 FC 473

TaxTips.ca Articles:

- How Can You Minimize Taxes of a Deceased Taxpayer?

- Tax Treatment of Income From Investments in Exchange-Traded Funds (ETFs)

- Tax Treatment of Income From Investments in Mutual Funds

- Passenger Vehicle Expense Limitations

- Vehicle Definitions For Tax Purposes

- RRSP Excess Contributions

Life in the Tax Lane - May 2018

April 27, 2018

Sources:

- CRA Payment Arrangements

- Incentives Received by a Business

- End of U.S. Offshore Voluntary Disclosure Program:

- Streamlined Filing Compliance Procedures

- Offshore Voluntary Disclosure Program

- Using Legacy Software:

- Canadian Lawyer: Time to say goodbye: Dealing with legacy software

- Kingston Ross Pasnak LLP: Are you experiencing problems using "legacy software"? - article no longer available.

- Requirement to Assess - Amended T4: Madore v. Canada (Attorney General), 2018 FC 244

- Allowable Business Investment Loss - Active Operations: Hebert v. La Reine 2018 CCI 48

TaxTips.ca Articles:

- What if I Can't Afford to Pay the Tax I Owe?

- Business Investment Loss

Life in the Tax Lane - April 2018

March 28, 2018

Sources:

- Malicious Prosecution by CRA? - Samaroo v. Canada Revenue Agency, 2018 BCSC 324

- Budget 2018 - Passive Income

- Department of Finance 2018 Budget

- Technical Interpretation 2017-0717561E5 specified small business corporation

- Tax on Split Income - Parliamentary Budget Officer - Income Sprinkling Using Private Corporations

- U.S. Transition Tax and Canadian Corporations

- Source 1 - passed by Congress: H.R.1 - An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.

- Source 2 - Video Tax News discussion re US Mandatory Repatriation tax affecting US persons in Canada.

TaxTips.ca Articles:

- Small Business Deduction - Business Limit Reduction Based on Aggregate Investment Income