2024 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
November 29, 2024
Topics :
GST/HST Relief on "Grocery and Holiday" Essentials
Working Canadians Rebate
Capital Gains Inclusion Rate Increase – Taxpayer
Relief
CRA Online Services – Transfer of Individual Payments
Online
My Business Account – Electronic Communication
TaxTips.ca Resources GST/HST
"Vacation"
Working
Canadians Rebate
October 31, 2024
Sources :
Canada Carbon Rebate – Payments
Government announces significant new support to help small business owners Canada Carbon Rebate for Small Businesses Payment Amounts, 2019-20 to 2023-24 Canada Carbon Rebate for Small Businesses - How much you may get
Capital Gains Changes – Impact of Delays
CRA’s Digital Improvements
Tax Tip – Crypto-Assets – Required Records
Reporting your capital gains as a crypto-asset user Reporting your crypto-asset income as an individual carrying on a business
CRA Service Consultation
- Provide Your Input!
Secondary Suites – Various Implications
TI
2023-1000391E5 BC Secondary Suite Incentive Program - Income Tax Implications TI
2024-1009501E5 MHRTC - Principal Residence Exemption and Change in Use
TaxTips.ca Resources Canada
Carbon Rebate for Small Businesses
CRA
Proceeding With Implementation of Inclusion Rate Increase
Barter and Cryptocurrency
Transactions
BC
Secondary Suite Incentive Program
Federal Multigenerational Home Renovation Tax Credit
(MHRTC) - What About My Principal Residence Exemption?
September 27, 2024
Sources :
Canada Business Corporations Act – Public Registry
CRA:
New filing requirement in effect: CBCA businesses must begin to file individuals with significant control information Search
for a Federal Corporation
Registered Education Savings Plan – Contribution Considerations
TFSA Excess Contributions – Decline in Value - Saffari v. Canada (Attorney General), 2024 FC 1390
Shareholder Loan Account – Proper Bookkeeping - Kumar v. The King, 2024 TCC 105
Input Tax Credit – Shareholder Purchasing Asse - 1000025074 Ontario Inc. v.
The King, 2024 TCC 110
IRS Collection of Canadian Taxes
TaxTips.ca Resources Registered Education
Savings Plans (RESPs)
Tax-Free Savings Account (TFSA) Excess
Contributions
Tracking
Loans To or From Shareholders
August 30, 2024
Sources :
Capital Gains Inclusion Rate Increase – Draft Legislation
Trust Reporting – Draft Legislation
Trust Distributions Violating Trust Terms
Alternative Minimum Tax – Draft Legislation
Post-Mortem Losses – Draft Legislation
Collection of GST/HST by Accommodation Platform
TaxTips.ca Resources 2024
Federal Budget Legislation
July 30, 2024
Sources :
Bare Trust Issues – Current Events:
Taxpayers’ Ombudsperson launches systemic examination into Canada Revenue Agency’s 2023 bare trust filing requirements
TI
2024-1005851C6 2024 CALU RT - Q12 - trust reporting - bare trusts
Girard c. Agence du revenu du Québec, 2024 QCCQ 1665
(CanLII)
Canada Disability Benefit – Proposed Regulations
CRA Service Standards
Personal Services Business
Employee Ownership Trusts – Exemption or Deferral?
Bill
C-59 Fall Economic Statement Implementation Act, 2023
Bill
C-69 Fall Economic Statement Implementation Act, 2024
Canadian
Tax Foundation (third-party paywall)
TaxTips.ca Resources Bare Trusts
Personal Services Business
(PSB) - Incorporated Contractor/Employee
Employee
Ownership Trust Tax Exemption
July 2, 2024
Sources :
Capital Gains Inclusion Rate Changes:
Notice
of Ways and Means Motion June 2024
Budget
2024
Non-Resident Sellers of Canadian Real Estate:
Notice
of Ways and Means Motion June 2024
Budget
2024
Use of Corporate Assets by Shareholder - Tremblay c. Agence du revenu du
Quebec, 2024 QCCQ 1439 (CanLII)
CRA Guidance – Receipts
Bare Trust Reporting Rules
New reporting requirements for trusts and bare trusts: T3 returns filed for tax years ending after December 30, 2023
Trusts holding GICs must file annual return, CRA says
Gross Negligence Penalties
- Croteau c. Agence du revenu du Québec, 2024 QCCQ 2182 (CanLII)
TaxTips.ca Resources Capital Gains and Losses
Buying or
Renting Real Estate From a Non-Resident
Bare
Trusts
May 31, 2024
Sources :
Fees for Services Consultation
- Share Your Thoughts
Real Estate – CRA Audit Activity
Capital Gains Inclusion Rate – Budget 2024
Budget
2024 - Capital Gains Incusion Rate
Canadian
Accountant - Proposed Changes to Capital Gains Rules
Advisor.ca
- Freeland says capital gains proposal will be tabled before summer break
CEBA – Collection Process
Loan Assigned to CEBA Program — Loan Assignment
Frequently Asked
Questions
Spousal Income Attribution
- TI 2021-0908201C6 Vente d'un bien détenu en copropriété par indivisi
(Sale of property held in co-ownership)
Canada Carbon Rebate for Small Businesses
Budget
2024 - Canada Carbon Rebate for Small Businesses
Bill
C-69 Budget Implementation Act, 2024, No. 1
Canadian Dental Care Plan Update
1 million seniors can now access services under the Canadian Dental Care Plan
Sun
Life - Find a Canadian Dental Care Plan (CDCP) provider
TaxTips.ca Resources Principal Residence
Exemption
Property
Flipping
Real Estate Sales - Are They
Taxable? What About My Principal Residence?
Capital
Gains and Losses / Capital Gain Inclusion Rate
Attribution Rules re Gifts, Transfers, or Loans to a Spouse or a Related Minor Child
April 29, 2024
Sources :
2024 Federal Budget – Capital Gains/Other Items:
Fairness
for every generation
Eight
key considerations for accountants and small business advisors
Home Office Expenses – Multiple Employers and Clients - Bykov v. The King 2024
TCC 36
Accessing CRA Online Portals
Psychotherapy and Counselling Therapy – GST/HST - Hidden Traps
Notice334
Proposed Amendment - Exemption for Psychotherapy Services
Notice335
Proposed Amendment - Exemption for Counselling Therapy Services
Avoiding CPP by Paying Dividends
TaxTips.ca Resources 2024
Federal Budget - April 16, 2024 - Capital Gains Inclusion Rate
Employee
Work-Space-in-Home Expenses
Canada Pension Plan (CPP), Quebec Pension Plan
(QPP), and Employment Insurance (EI)
March 28, 2024
Sources :
Bare Trusts –
New reporting requirements for trusts: T3 returns filed for tax years ending after December 30, 2023
T2200 – Employer Requirement?
Reliance on CRA's My Account
- Brand v. Canada (Attorney General), 2024 FC 159
Canada Carbon Rebate
Short-Term Property Rentals – Denial of Expenses
CPA
Canada - Legislative proposal to crack down on non-compliant short-term
rentals CPA Canada - Feds slap punitive tax measure on non-compliant short-term rentals
UHT – CRA Commentary on Excluded Owner Proposals
UHTN16
Proposed Amendments to the Underused Housing Tax UHT-2900 Underused Housing Tax Return and Election Form
TaxTips.ca Resources Bare
Trusts
Employee Work-Space-in-Home Expenses
Underused Housing
Tax
February 29, 2024
Sources :
T1 Season – What's New:
CRA:
What you need to know for the 2024 tax-filing season Tax
season starts February 19, and here's what you need to know Government
announces Canada Carbon Rebate amounts for 2024-25
Working From Home Expenses
CCA – Retroactive Adjustment
- TI 2023-0982881C6 Revision of Capital Cost Allowance Claims
GST/HST Electronic Filing Reminder
Multi-Factor Authentication – Authenticator App
Cryptocurrency Losses
- TI 2023-0982931C6
FHSA – Constructing a Home
- TI 2023-0978631C6
TaxTips.ca Resources Canada Carbon Rebate (CCR) - formerly Climate Action Incentive
(CAI) Quarterly Payments
Employee Work-Space-in-Home Expenses
Capital Cost Allowance
Barter and Cryptocurrency Transactions
First Home Savings Account
January 30, 2024
Sources :
UHT – Assessment Statistics
TI
2019-0798021I7 Clearance Certificate Obtained after Distribution
CPP Survivor – Common-Law
Partner - Pentesco v. Fraser, 2023 FCA 239
Employee vs. Independent Contractor – Control by
Owner-Manager - IBI Behavioural Services Inc. v. M.N.R., 2023 TCC 159
Short-Term Rental – Denial of Expenses
2023
Fall Economic Statement December
2023 Legislative Proposals and Explanatory Notes
FHSA – Income Splitting
Tax-Free First Home Savings Account: Estate Implications And Income Splitting Opportunities Alternative ways to fund and use an FHSA
Video Tax News
Seminars, including Expanded T3 Reporting Rules: Changes and Traps
TaxTips.ca Resources Employee or Self-Employed Independent Contractor?
Proposal
to Crack Down on Non-Compliant Short-Term Rentals
First Home Savings Accounts
(FHSAs)
December 29, 2023
Sources :
Pre-Budget Consultations
Canada Dental Care Plan
Electronic Distribution – T-slips
Cryptocurrency and NFTs
Working From Home Expenses – Employees
Expanded Trust Reporting – CRA Guidance
TaxTips.ca Resources Attention
Employers - Additional T4 and T4A Slip Reporting
Barter and Cryptocurrency
Transactions
Informal Trust
Accounts and New Reporting Requirements
Prior Year Life in the Tax Lane Videos: 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: November 29, 2024
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