New course! Demystifying AI for Accountants: Risks, Rewards and Ethics | 1-hour

Integrate AI into your accounting practice—ethically, confidently and without compromising professional standards.

1 hour of PD | Pre-recorded online | 1-week access | Learn more or register

Artificial Intelligence (AI) is rapidly transforming our industry, and those who thoughtfully adopt it are already reporting benefits—from time savings and more efficient data handling to enhanced client service. However, concerns around data confidentiality, accuracy and the ethical use of such technology remain substantial.

Join seasoned AI expert Greg Burlet M.Sc, M.A. and Video Tax News editorial board member Caitlin Butler CPA as they guide you through this 1-hour practical online introductory course. This session is built specifically for firms like yours that want to adopt AI thoughtfully and responsibly, with a focus on the use of large language models (LLMs) such as ChatGPT, without compromising on professional standards.

This valuable seminar is pre-recorded and can be viewed anytime during your selected session dates. Enjoy the flexibility to pause, rewind or skip ahead. You can view these videos as often as required during the session.

This pre-recorded, 1-hour webinar is the perfect starting point to understand AI’s ethical dimensions—and to begin using it with purpose and professionalism.

Watch! Life in the Tax Lane - May 2025

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

Topics:

• Delayed Tax Slips

• Repeated Failure To Report Income – Returns Filed Concurrently – Source 1 and Source 2

• Trust Reporting – CRA Guidance Update

• Form T1135 – Multiple Penalties

• Transition To CRA Digital Mail For Businesses

• Canadian Dental Care Plan

Program Recorded: April 24, 2025.

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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. 2025, All Rights Reserved.

Watch! Life in the Tax Lane - April 2025

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

Topics:

• Gig Workers – Source 1 and Source 2

• Federal Carbon Tax – Source 1 and Source 2

• Taxpayer Relief – Capital Gains Inclusion Rate – Source 1 and Source 2
  
  Late Breaking News: On March 21, 2025 – Prime Minister Mark Carney announced the cancellation of the proposed increase to the capital gains inclusion rate.

• Ombudsperson's Report on Bare Trust Rules

Program Recorded: March 20, 2025.

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🎧 You can also catch “Life in the Tax Lane” on your favourite podcast platform. Find it on Spotify, Apple Podcasts, Amazon Music and many other podcast services!

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.

Watch! Life in the Tax Lane - March 2025

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

Topics:

• Personal Tax Filing Statistics

• Reporting Rules For Digital Platform Operators

• Delayed Filings – Source 1, Source 2 and Source 3

• Capital Gains – Source 1 and Source 2

• Charitable Contribution Extension

• Individual Canada Carbon Rebate – Rural Supplement – Source 1 and Source 2

Program Recorded: February 21, 2025.

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🎧 You can also catch “Life in the Tax Lane” on your favourite podcast platform. Find it on Spotify, Apple Podcasts, Amazon Music and many other podcast services!

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.

T-slip filing issues? CRA provides relief and guidance

On February 19, 2025, CRA released a Tax Tip providing guidance and announcing administrative relief related to:

• challenges practitioners have experienced when filing information returns; and  

• the deferral of the effective date for the increase to the capital gains inclusion rate to January 1, 2026.    

Information slip filing relief

CRA stated that they will grant relief in respect of late-filing penalties for information returns filed on or before March 7, 2025, for those information returns normally due on February 28, 2025.   

Confirmation receipt

 CRA noted that the “Confirmation of Receipt” email sent when a file has been received does not necessarily indicate that the file was accepted. CRA suggested that filers should review the email to confirm whether the return was actually accepted.

Common slip rejection issues

CRA provided a listing and discussion of the common reasons that information slips electronically filed are rejected: 

• missing mandatory tags in the XML; 

• invalid account number; 

• incorrect Transmitter Account Number provided on the T619 Electronic Transmittal Record;  

• issues related to T4 Box 45 and T4A Box 015 (dental benefits); and  

• issues related to the calculate button on the summary page in MyBA and RAC (T4) not working properly.  

Previously released slips

CRA will not be revising or altering the tax slips that were published in the fall of 2024, which reference 2024 capital dispositions in Period 1 (January 1 – June 24, 2024) and Period 2 (June 25 – December 31, 2024).  

Tax slip adjustments

Information to be reported on certain tax slips (primarily the T3, T4PS and T5008 (book value) slips) needs to be recalculated to ensure taxpayers receive accurate information. Penalty relief related to these information returns, except for T3 slips (see below), will be extended to March 17, 2025. 

T3 slips relief

On January 31, 2025, CRA announced that it will grant relief in respect of late-filing penalties and arrears interest until June 2, 2025, for impacted T1 individual filers and until May 1, 2025, for impacted T3 Trust filers. The T3 relief applies to both T3 returns and information slips. 

Penalty relief caution

While CRA is providing relief from the application of the late filing penalty in several instances, a return will be considered late the day following the end of the relief period and will incur a late filing penalty based on its original due date.