Life in the Tax Lane - May 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. 

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Watch! Discussion with Ian Pryor regarding the future uses of trusts given the new private corporation taxation rules such as tax on split income & corporate passive investment income.

Discussion with Ian Pryor of Pryor Tax Law and Joseph Devaney of Video Tax News regarding the future uses of trusts given the new private corporation taxation rules such as tax on split income and corporate passive investment income.

Recorded October 5, 2018

 

 

Watch! Discussion with Dean Blachford of HazloLaw Business Lawyers regarding the new voluntary disclosure program and first experiences with it.

Discussion with Dean Blachford of HazloLaw Business Lawyers and Joseph Devaney CPA, CA of Video Tax News regarding the new voluntary disclosure program and first experiences with it.

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Recorded October 5, 2018

 

 

CRA Interest Computation on Substitution of Losses (eg. loss carryforward replaced with a loss carryback) - no interest charged for a tax year that does not result in a change of tax payable.

INTEREST CALCULATION – LOSS SUBSTITUTIONS

In a March 21, 2018 Technical Interpretation (2017-0736291E5, Godson, Gillian), CRA stated that they would not charge interest when there is a substitution of losses (e.g. a loss carryforward replaced with a loss carryback) for a particular tax year that does not result in a change in tax payable. Absent this administrative concession, interest could be calculated from the balance due date of the taxation year to which the loss is applied until 30 days after the amendment was filed (Paragraph 161(7)(b)).

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 445.

Life in the Tax Lane - April 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.