This episode of Life in the Tax Lane delivers key Canadian tax updates in just 10 minutes. Topics include a proposed GST rebate for first-time home buyers, potential U.S. tax changes affecting investment income, CRA’s administrative stance on mandatory electronic payments over $10,000, and updates to the Canada Disability Benefit.

The presentation also highlights CRA’s backlog of uncashed cheques, a new taxpayer relief tool, and the meaning behind CRA’s “nudge letters.” With practical insights and timely commentary, the team offers valuable guidance on emerging tax issues for Canadian professionals.

Topics: First-Time Home Buyers’ GST Rebate | Proposed US Tax Change – Impact on Canadian Investors | Electronic Payments – CRA Enforcement | Uncashed Cheques from CRA | Canada Disability Benefit Online Application | New Online CRA Tool – Penalty and Interest Relief | CRA Nudge Letters and Online Sales

Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-july-2025-episode-122

Learn more about Tax Update 2025: https://members.videotax.com/courses/tax-update-2025

Program Recorded: June 19, 2025

Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2025, All Rights Reserved.

The June edition of Life in the Tax Lane is here! In this month’s episode, the Video Tax News team covers key updates following the federal election, including proposed tax changes, CRA enforcement, automatic individual tax filing and a review of the corporate tax system. Learn what the drop in the lowest personal tax rate means for payroll and credits.

We also address CRA’s incorrect capital gains exemption assessments and how to protect objection rights.

Plus, CRA is rolling out mandatory online mail for most business accounts—GST, payroll and corporate tax included. We explain how this impacts representatives and why keeping client info current is critical.

Topics: New Government – Tax Changes? | Personal Tax Rate Reduction | Capital Gains Exemption – 2024 Assessment Errors | CRA Online Mail for Businesses | Represent a Client – Employer Responsibility

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.

Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-june-2025-episode-121

Don’t miss our 25% off Ethics Course Bundle and more resources at videotax.com.

Program recorded: May 22, 2025

Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2025, All Rights Reserved.

The May 2025 edition of Life in the Tax Lane is now available — packed with timely updates every Canadian accountant needs to know.

In this fast-paced 10-minute episode, the Video Tax News team covers:

• CRA’s tax slip upload delays — T1 season is not done yet!
• Repeated failure to report income — how missing slips can lead to big penalties
• CRA updates on trust and bare trust reporting — and what to fix from last year
• A real-world T1135 case — foreign assets, missed filings and steep consequences
• CRA’s shift to online-only mail for businesses — prepare and protect your clients
• Canadian Dental Care Plan expansion — and why a timely return matters

Topics: Delayed Tax Slips | Repeated Failure to Report Income – Returns Filed Concurrently | Trust Reporting – CRA Guidance Update | Form T1135 – Multiple Penalties | Transition to CRA Digital Mail for Businesses | Canadian Dental Care Plan

Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-may-2025-episode-120

Register or learn more about "Demystifying AI for Accountants: Risks, Rewards and Ethics" go to https://members.videotax.com/courses/demystifying-ai-for-accountants-risks-rewards-and-ethics

Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2025, All Rights Reserved.