Watch Caitlin Butler CPA, CA, Joseph Devaney CPA,CA and Hugh Neilson CPA, CA, TEP recap Federal Budget 2019.

Watch Caitlin Butler CPA, CA, Joseph Devaney CPA,CA and Hugh Neilson CPA, CA, TEP recap Federal Budget 2019.

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. 2019, All Rights Reserved.

Federal Budget set for March 19, 2019! Order your Video Tax News commentary today.

Update! Budget 2019 will be released March 19, 2019. Click here for the release.

The Video Tax News 2019 Federal Budget Commentary is a brandable publication for you to distribute to your clients.

Save your scarce time and add value for your clients.  

For over 30 years, the Video Tax News Editorial Board has used their specialized tax experience to pull the most critical and practical tax updates from the Federal Budget for owner/managers and high-net worth individuals. These insights are carefully formatted into an easy-to-use master file.  Accountants and financial professionals can add company information and distribute to clients.
 

Subscribe to this publication to let your clients know how the Federal Budget will impact them.

How does it work?

• Subscribers can access the 2019 Federal Budget Commentary on the Members Portal in both Word and PDF within 24 hours of the Federal Budget release.

• Subscribers can add their firm's logo/letterhead/branding and distribute to their clients.

• Subscribers can distribute to clients via email, social media, website publications, mail, etc.

Expect a concise and practical newsletter that you will be proud to distribute!

Jumping over the Family Succession Landmines with Gregg Becker of Predictable Futures

Jumping over the Family Succession Landmines with Gregg Becker of Predictable Futures and Joseph Devaney of Video Tax News .

Topics:

• Differing skill and interest levels of children

• The family employment policy

• Full family meeting

• Aligning family issues

• Relationship breakdown

• Usage of 3rd parties

• Future ownership policy

• Involving the spouses

• Conflict is the norm, not the exception

• Owner dependence on the proceeds

• What’s my legacy and expectation for the business?

• Transitioning out

Recorded August 23, 2018

Extended Reassessment Period - Where a 3rd party request for information from CRA is contested, new rules would "stop the clock" on the normal reassessment period for all taxpayers affected.

EXTENDED REASSESSMENT PERIOD – THIRD-PARTY REQUIREMENT FOR INFORMATION

The 2018 Federal Budget proposed a new rule which would “stop the clock” on the usual reassessment deadline where a third-party requirement for information, or a compliance order against the specific taxpayer(s), is contested (proposed Section 231.8). The period from filing court papers to the final decision of the courts (including any appeals) will not count towards the usual time limit for CRA to reassess any taxpayer affected by the information disclosed.

The extended reassessment period would operate in respect of all issues, not just those to which the requirement or compliance order relates.

Taxpayers should be aware of any disputed third-party requests for information or compliance orders that may impact their reassessment period. It is possible that the taxpayer would not even be aware of the third-party requirement and be surprised by a reassessment outside the usual reassessment period.

This proposal was included in the second Budget Bill, Bill C-86, which received Royal Assent on December 13, 2018.

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 444.