Watch Tim Cestnick and Joseph Devaney discuss items to watch for in the 2021 Federal Budget.

Federal Budget will be released on April 19, 2021. Watch Tim Cestnick, Globe and Mail and Joseph Devaney, Video Tax News discuss items to watch for. Will we see a wealth tax? Tax on luxury purchases? Changes to the Principal Residence Exemption (PRE) or capital gains rates?

Recorded March 24, 2021

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. 2021, All Rights Reserved.

Watch! Intro to the Canadian Tax Focus with Editor Alan Macnaughton

Young tax practitioners looking for a place to get published?  General practitioners looking for a good source of free tax information?

Check out the Canadian Tax Focus, published by the Canadian Tax Foundation.

Bonus – We chat with Alan about his time Directing the Personal Income Tax Division at the National Department of Finance.

View previous publications: https://www.ctf.ca/ctfweb/en/newsletters/canadian_tax_focus/ctf_archive.aspx

To contribute, email Alan at: amacnaughton@uwaterloo.ca

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. 2021, All Rights Reserved.

Watch! CEWS - A Big Tip for Restaurants

Restaurants have been hit extremely hard during the pandemic. Like most of you, we wanted to do as much as we could to support them as well. Since our qualifications in menu and restaurant design are low, we thought we’d focus on something that we do know about: the Canada Emergency Wage Subsidy (CEWS).

There is one huge piece of the pie that we’ve noticed most restaurants are missing out on; claiming CEWS on tips that are received and redistributed to employees. In this clip, we discuss how it works and what is needed with tax lawyer James Rhodes, a knowledge contributor to Restaurants Canada.

Resources:

CRA policy and definition of controlled tips

CEWS (Canada Emergency Wage Subsidy) policy on tips

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. 2021, All Rights Reserved.