Life in the Tax Lane - April 2020

This FREE 10-minute video for Canadian Tax Professionals includes rapid-fire discussion of select recent developments in the wonderful world of Canadian tax presented by the Video Tax News Team. 

Sources

• COVID-19 – Canada's Economic Response Plan – Source 1, Source 2, Tax Filing/Payment Relief (COVID-19 – Video #1), Small Business Measures (COVID-19 – Video #2), Individual Measures (COVID-19 – Video #3) and Temporary Wage Subsidy (COVID-19 – Video #4)

• Employment Insurance – Delay in Disability Benefit Application

• Director Liability – Due Diligence 

• Tips – Gross Negligence Penalties 

• Is It a Business? – Start-Ups and Wind-Ups – Source 1 and Source 2

• CRA My Account – Uncashed Cheques 

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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. 2020, All Rights Reserved.

Watch! Individual Measures (COVID-19 – Video #3)

Watch! COVID-19 – Individual Measures with Caitlin L. Butler CPA, CA and Hugh Neilson, FCPA, FCA, TEP

Source

• Gov’t of Canada release: https://www.canada.ca/en/department-finance/economic-response-plan.html#individual

• CFIB release: https://www.cfib-fcei.ca/en/media/half-small-firms-report-drop-sales-due-covid-19-quarter-say-they-wont-survive-month-big-0

Recorded March 18, 2020

This video 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. 2020, All Rights Reserved.

Watch! Small Business Measures (COVID-19 – Video #2)

Watch! COVID-19 – Small Business Measures with Joseph R. Devaney CPA, CA and Caitlin L. Butler CPA, CA.

Source

• Gov’t of Canada release: https://www.canada.ca/en/department-finance/economic-response-plan.html#business

• Big 6 banks releases: http://td.mediaroom.com/2020-03-17-Canadas-Six-Biggest-Banks-Take-Decisive-Action-To-Help-Customers-Impacted-by-COVID-19?fbclid=IwAR0EJaumFE9X_Cx2M0dmTfbHg8EqsCtPrBZOxKz6OLT-15iarND37ER98x0

• https://www.cfib-fcei.ca/en/media/cfib-statement-federal-covid-19-aid-measures-workers-and-businesses

• https://www.cfib-fcei.ca/en/media/half-small-firms-report-drop-sales-due-covid-19-quarter-say-they-wont-survive-month-big-0

Recorded March 18, 2020

This video 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. 2020, All Rights Reserved.

Tax Filing/Payment Relief (COVID-19 – Video #1)

Watch! COVID-19 – Tax Filing/Payment Relief with Joseph R. Devaney CPA, CA and Caitlin L. Butler CPA, CA.

Source

• https://www.canada.ca/en/department-finance/economic-response-plan.html

Recorded March 18, 2020

This video 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. 2020, All Rights Reserved.

Life in the Tax Lane - March 2020

This FREE 10-minute video for Canadian Tax Professionals includes rapid-fire discussion of select recent developments in the wonderful world of Canadian tax presented by the Video Tax News Team. 

Sources

• T1 Season – What’s New – Source 1 and Source 2

• U.S. – New Disclosure Requirements for Crypto Activities

• Vehicle Logs – MileIQ, Mileage Tracker, MileBug and Odotrack

• Tenant Relocation Assistance

• Starting a Business While Collecting Employment Insurance

• Late Appeal – Miscommunications

• In-Kind Contributions to an NPO

*NOTE: Revised video updated March 4, 2020. The original version indicated that accountants could no longer update direct deposit information.  While the ability has been removed on paper-filed returns, the newly released Efile guide (February 24, 2020) indicates that direct deposit fields are still being submitted to CRA.

Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.

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. 2020, All Rights Reserved.