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Watch! Understanding the New Mandatory Disclosure Rules: An Interview with Adam Friedlan JD, LLM and Joe Devaney

Watch this insightful interview with Adam Friedlan JD, LLM of Friedlan Law and Joe Devaney CPA as they provide an overview of the new mandatory disclosure rules.

Key topics discussed include:

  • a brief overview of the two main regimes:

    • reportable transactions

    • notifiable transactions

  • changes in the definition of an avoidance transaction

  • single transaction vs. series of transactions

  • reporting requirements and timelines

  • issues related to reporting for employees and partnerships receiving fees for consultation or advisory services

Gain a clearer understanding of these complex rules and their implications.

Source Documents:

https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/mandatory-disclosure-rules-overview/guidance-document.html

Recorded October 30, 2023

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. 2024, All Rights Reserved.

Watch! Interview on the Disability Tax Credit (DTC) Application Platform: Benefits 2 with Co-Founder Christine Brunsden

During our Personal Tax Update seminar series, several participants highlighted a new Disability Tax Credit (DTC) application platform, Benefits 2. It started as a social enterprise to simplify the process and support Canadians' access to this important credit as efficiently as possible.

In this interview, Joseph Devaney speaks with Benefits 2 co-founder Christine Brunsden TEP, CEA, EPC, MFA-P™️ about:

  • The complications of filing and obtaining the Disability Tax Credit

  • About the Benefits 2 history and how it works

  • The free online assessment tool to determine if you are likely to qualify

  • Two service options: Self-guided ($99+tax) or Expert-guided ($149+tax)

  • Support for getting the correct documentation

Learn more: https://benefits2.ca/

Recorded January 24, 2024

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. 2024, All Rights Reserved.

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Watch! Life in the Tax Lane - May 2024

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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. 

Topics:

Program Recorded: April 22, 2024.

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. 2024, All Rights Reserved.

 
 
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Watch! Life in the Tax Lane - April 2024

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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. 

Topics:

* Late Breaking - Bare Trust Reporting Exemption!

On March 28, 2024 (after this episode of Life in the Tax Lane was recorded), CRA announced that bare trusts would be exempt from trust reporting requirements for 2023. CRA stated:

“To support ongoing efforts to ensure the effectiveness and integrity of Canada’s tax system, the Government of Canada introduced new reporting requirements for trusts.

In recognition that the new reporting requirements for bare trusts have had an unintended impact on Canadians, the Canada Revenue Agency (CRA) will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the CRA makes a direct request for these filings.

Over the coming months, the CRA will work with the Department of Finance to further clarify its guidance on this filing requirement. The CRA will communicate with Canadians as further information becomes available.”

For more information, see CRA’s Tax Tip .

Program Recorded: March 21, 2024.

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. 2024, All Rights Reserved.

 
 
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Watch! Life in the Tax Lane - March 2024

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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. 

Topics:

Program Recorded: February 22, 2024.

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. 2024, All Rights Reserved.