2021 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 - December 2021
November 30, 2021
Sources:
2022 Indexation for Personal Amounts
COVID-19 - Personal Support
Bill
C-2 First Reading
November
24, 2021 Department of Finance News Release
COVID-19 - Business Support
Bill
C-2 First Reading
Department
of Finance - Types of Business Eligible for the Tourism and Hospitality
Recovery Program
November
24, 2021 Department of Finance News Release
Falsified Employment Records
- Nijabat Contracting Inc v. Attorney General of Canada 2021 FC 946
Rental Property
- Szablak c. Agence du Revenu du Quebec, 2021 QCCQ 8860 (CanLII)
Disability Tax Credit
(DTC) Fee Restrictions
OAS Clawback Planning
Old
Age Security pension recovery tax
Globe
and Mail - Should you move to a retirement community, how an aging
population could impact future stock market returns and five lessons from
yoga to help build wealth
TaxTips.ca - Old Age Security
Clawback
TaxTips.ca Resources
2021 and
2022 Canadian Tax & RRSP Savings Calculator
2022 and Earlier
Basic Tax Calculator
2022 and Earlier
Non-refundable Personal Tax Credits - all provinces except Quebec
2022 and Earlier
Quebec Tax Credits and Deductions Subject to Automatic Indexation
Property
Rental Deductible Expenses
Life in the Tax Lane - November 2021
October 29, 2021
Sources:
COVID-19 Update -
Businesses and Individuals
CPP Disability Benefit
New Disability Tax Credit Form and Application Tool:
T2201
Disability Tax Credit Certificate
Disability
Tax Credit Digital Application
RESPs Many Canadians Dont Understand Them
TaxTips.ca Resources
CPP Disability Benefit
CPP Retirement
Pension Calculator
Disability Tax Credit
Disability
Insurance - Pay Your Own Premiums!
Registered Education
Savings Plans (RESP)s
Life in the Tax Lane - October 2021
September 29, 2021
Sources:
Travel Log
- Cossette v. Quebec Revenue Agency, 2021 QCCQ 6923 (CanLII)
Automobile Benefits - Electric Vehicles
- TI 2017-0696041E5
Enhancing the Value of Owner-Managed Business - this link from
intelligentwork.com no longer works.
Salaries to Family Members
- Prunoiu v. Quebec Revenue Agency, 2021 QCCQ 7555 (CanLII)
Transfer of Property for Less Than Fair Market Value
- TI 2020-0865201E5
Unsigned Will COVID-19
- Bishop Estate v. Sheardown, 2021 BCSC 1571
TaxTips.ca Resources
Keep a
Trip Log to Identify the Business Use of Your Vehicle
Automobile Taxable
Benefits
Selling Capital Property Non-Arm's Length For Less Than Market Value
Wills and Estate Planning
Life in the Tax Lane - September 2021
August 30, 2021
Sources:
Multiple Consultations Released
Workspace In Home Expenses
- What you need to know if the CRA reviews your home office expense claims
by Jamie Golombek, CPA, CA, CFP, CLU, TEP.
Ensuring Audit Requests Are Answered
- Amdocs Canadian Managed Services Inc. v. Canada (National Revenue), 2021 FC 707
Medical Travel Expenses
- 2021-0879911E5 METC - COVID-19 tests & hotel quarantine
German Pensions
Multiple Children But One RESP Account
- from MoneySense
Fuel Cards Provided To Independent Contractor Drivers
-Daville Transport Inc. v. The Queen - 2021 TCC 47
Wedding Costs Tax Evasion?
- R. v. Mariani, 2021 ONSC 4731 (CanLII)
TaxTips.ca Resources
BC Speculation and Vacancy
Tax
BC Foreign Buyer Tax
(Additional Property Transfer Tax)
Employee
Work-Space-in-Home Expenses
Eligible Medical Expenses
Registered Education
Savings Plans (RESPs) - Be Aware, and Beware!
Ontario
Non-Resident Speculation Tax (NRST) (Foreign Buyers Tax)
Other Resources
City
of Vancouver Empty Homes Tax
Life in the Tax Lane - August 2021
July 27, 2021
Sources:
Additional OAS Payment
CRA Collections Impact On Business
- Signal Hill Manufacturing Inc v Canada Revenue Agency, 021 ABQB 460 (CanLII)
Tax-Driven Bankruptcies
- Sorochan (Re), ,2021 NSSC 200 (CanLII)
Informal Agreements Between Family Members
- BC Estate Litigation Blog
Travel Allowances Limited Distance Covered
- TI 2017-0713041E5 Allowance for the use of a motor vehicle (French)
Bulk Taxpayer Relief
TFSA Excess Contributions
- Jamie Golombek, CPA, CA, CFP, CLU, TEP
EI Consultation
Foreign Buyer Property Transfer Tax
- Li v. British Columbia, 2021 BCCA 256 (CanLII)
TaxTips.ca Resources
Old Age Security Pension
(OAS)
Wills & Estate Planning
TFSA Excess Contributions
BC Property Taxes & Property
Purchase Taxes
Life in the Tax Lane - July 2021
June 29, 2021
Sources:
CEWS Audits
CEWS
Audits Paper & Chart - Blachford Tax Law
Businesses:
Watch out for CEWS tax schemes - CRA
CERS Lockdown Support Restricted Activities
TI
2020-0873601I7 CERS - restricted activities of a travel agency
TI
2021-0880401I7 CERS - Lockdown Support Restricted Activities
Insurable Employment
- Kaloti v. Canada (Attorney General) 2021 FCC 334
Impending US Tax Changes
US Master Limited Partnerships (USMLPS) Withholding Taxes
- by John Heinzl
Poor Records Repayment of Shareholder Advances
- Gendron v. Quebec Revenue Agency, 2021 QCCQ 3575 (CanLII)
TaxTips.ca Resources
Canada
Emergency Wage Subsidy (CEWS)
Canada
Emergency Rent Subsidy (CERS)
Investing
Tax Issues, Tax Treatment of Different Types of Investments
Shareholder Loans and Their
Tax Implications
Life in the Tax Lane - June 2021
May 28, 2021
Sources:
Estate Planning Millennials
Reviewing Beneficiary Designations
Proposed Changes to Facilitate Intergenerational Transfers
- Bill C-208
Mandatory Disclosures Budget 2021
Medical Expenses Leasing Costs Due to COVID-19
- TI 2020-0866561E5 METC -A
Personal Protective Supplies
- TI 2020-0867061I7 Employment expenses
CEWS Eligible remuneration
- TI 2020-0865791I7
E-Commerce, Accommodation Sharing & Warehouses:
TaxTips.ca Resources
Wills and Estate Planning
Lifetime
Capital Gains Exemption (LCGE)
Employment Expenses Line 22900
Canada
Emergency Wage Subsidy (CEWS) for Employers
Life in the Tax Lane - May 2021
April 29, 2021
Sources:
Federal Budget 2021
New Program Advisor Error
- Tellini v. Bell Alliance, 2021 BCSC 549
Social Media Review
- CRA looking for unreported income from influencers
Unnamed Persons Requirement
(UPR) Coinsquare
Bank Records Sent to the IRS
New Compilation Engagement Standard Effect on Tax Work
Disability Tax Credit (DTC) Fee Restrictions:
TaxTips.ca Resources
2021 Federal Budget - April 19,
2021
BC Foreign Buyer Tax
(Additional Property Transfer Tax
Barter and Cryptocurrency
Transactions Can Result in Taxable Income, Sales Taxes Payable
Disability
Tax Credit Promoters Restrictions Act
Life in the Tax Lane - April 2021
March 30, 2021
Sources:
CERS/CEWS Update
CRA Online Security
Wedding Costs Business Expense?
Spiegel
Sohmer Inc. vs. Quebec Revenue Agency 2021 QCCQ69 (CanLII)
Grunbaum vs.
H.M.Q., 91-352(IT)G (pdf)
Rental Properties Repair Expense
- DiCaita v. The Queen, 2021 TCC 5
Income Versus Capital Gains -
Vern Krishna: Stock Traders Beware of Tax Traps: The Taxman Cometh
Taxpayer Relief Financial Hardship
- Shea v. Canada (Attorney General), 2021 FC 54
TaxTips.ca Resources
Canada
Emergency Wage Subsidy (CEWS)
Canada
Emergency Rent Subsidy (CERS)
T4A
Tax Slip Errors re COVID Benefits
Capital
or Expense - re rental property, business assets
Are Your Investment
Gains and Losses Capital or Income?
Taxpayer Relief Provisions (Fairness
Provisions)
Life in the Tax Lane - March 2021
February 26, 2021
Sources:
COVID-19 Benefit Recipients Individual Interest Relief
CERB Issues
Capital Gains Inclusion Rate Changes Who is Affected?
Potential U.S. Tax Changes
Registered Disability Savings Plans Letter Campaign
TaxTips.ca Resources
Filing Your Tax Return
Tax Return and Payment Filing Due Dates
Capital Gains and Losses
US Estate Tax May be Payable by Canadians
Registered Disability Savings Plans
(RDSPs)
Life in the Tax Lane - February 2021
January 28, 2021
Sources:
Education and Training
T4Summary 10% Temporary Wage Subsidy
Correcting Form PD27 Submissions
Electronic Signatures T183, T2200, T2200S
Relief Payments from Foreign Governments
- TI 2020-0851071I7 Hong Kong Cash Payout Scheme
U.S. Corporate Beneficial Ownership Disclosure
U.K. Publicly accessible Registers of Beneficial Ownership
TaxTips.ca Resources
T4 Requirements and Filing
Life in the Tax Lane - January 2021
December 29, 2020
Sources:
CRA Focus on Video Games Streamers and Online Influencers
Canada Emergency Rent Subsidy (CERS) Non-Arm's Length Rent:
Employees Working From Home During
COVID-19
Residential Property Rebates
- 1089391 Ontario Inc. v. The Queen 2020 TCC 129
Offshore Tax Informant Program Update
- TI 2020-0839921C6 STEP 2020
Electronic Signatures
Sending CRA Legal Documents Deceased Individuals
CEWS Period 1-5 Deadline Issues
TaxTips.ca Resources
Information
for Business Owners - video game streamers and online influences may need
this!
Canada
Emergency Rent Subsidy
Employee Work-Space-in-Home
Expenses
Canada
Emergency Wage Subsidy
Prior Year 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 20, 2024
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