webtip

Life in the Tax Lane - July 2019

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

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.

Watch Jeremy Herbert and John Fuller of Felesky Flynn talk about some key angles to succession planning for farmers.

Watch Jeremy Herbert and John Fuller of Felesky Flynn LLP talk about some key angles to succession planning for farmers.

Source:

Additional notes:

When considering whether corporate shares are eligible for the rollover to a child, the underlying assets must have been used in an eligible farming business.  While the farming business did not necessarily have to be operated out of the corporation, it must have been operated by a specified person or entity. (Subsection 70(10) “share of a capital stock of a family farm or fishing corporation”).

It is also important to consider the restrictions under Subsection 69(11), which are triggered if rolled property is subsequently disposed within 3 years.

As there are many such trips and traps, a specialist in the area should be consulted.  Thank you to John Fuller, Jeremy Herbert, and Ian Cubbit for their comments on this issue.

Recorded June 11, 2019

 

 

Life in the Tax Lane - June 2019

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

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.

Watch! QST Changes for Non-Quebec Businesses

Canadian businesses outside of Quebec supplying goods, services or IPP to Quebec consumers?  Rule changes significantly expand the number of businesses required to register for, collect and remit Quebec Sales Tax (QST).  Watch Mitch LaBuick, Indirect Tax Partner, BDO Canada LLP and Caitlin Butler, Video Tax News, discuss these new rules and identify businesses that may be impacted.

Source

Learn more from Mitch LaBuick! Register for 5 in 55: GST/HST Traps for the Owner-Managed Business and Individual.

Recorded April 15, 2019