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May 2025 - Delayed Tax Slips | Repeated Failure to Report Income – Returns Filed Concurrently | Trust Reporting – CRA Guidance Update | Form T1135 – Multiple Penalties | Transition to CRA Digital Mail for Businesses | Canadian Dental Care Plan

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Manage episode 480074978 series 1454121
Content provided by Video Tax News. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Video Tax News or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

The May 2025 edition of Life in the Tax Lane is now available — packed with timely updates every Canadian accountant needs to know.

In this fast-paced 10-minute episode, the Video Tax News team covers:

  • CRA’s tax slip upload delays — T1 season is not done yet!
  • Repeated failure to report income — how missing slips can lead to big penalties
  • CRA updates on trust and bare trust reporting — and what to fix from last year
  • A real-world T1135 case — foreign assets, missed filings and steep consequences
  • CRA’s shift to online-only mail for businesses — prepare and protect your clients
  • Canadian Dental Care Plan expansion — and why a timely return matters

Topics: Delayed Tax Slips | Repeated Failure to Report Income – Returns Filed Concurrently | Trust Reporting – CRA Guidance Update | Form T1135 – Multiple Penalties | Transition to CRA Digital Mail for Businesses | Canadian Dental Care Plan

Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-may-2025-episode-120

Register or learn more about "Demystifying AI for Accountants: Risks, Rewards and Ethics" go to https://members.videotax.com/courses/demystifying-ai-for-accountants-risks-rewards-and-ethics

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.

  continue reading

37 episodes

Artwork
iconShare
 
Manage episode 480074978 series 1454121
Content provided by Video Tax News. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Video Tax News or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

The May 2025 edition of Life in the Tax Lane is now available — packed with timely updates every Canadian accountant needs to know.

In this fast-paced 10-minute episode, the Video Tax News team covers:

  • CRA’s tax slip upload delays — T1 season is not done yet!
  • Repeated failure to report income — how missing slips can lead to big penalties
  • CRA updates on trust and bare trust reporting — and what to fix from last year
  • A real-world T1135 case — foreign assets, missed filings and steep consequences
  • CRA’s shift to online-only mail for businesses — prepare and protect your clients
  • Canadian Dental Care Plan expansion — and why a timely return matters

Topics: Delayed Tax Slips | Repeated Failure to Report Income – Returns Filed Concurrently | Trust Reporting – CRA Guidance Update | Form T1135 – Multiple Penalties | Transition to CRA Digital Mail for Businesses | Canadian Dental Care Plan

Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-may-2025-episode-120

Register or learn more about "Demystifying AI for Accountants: Risks, Rewards and Ethics" go to https://members.videotax.com/courses/demystifying-ai-for-accountants-risks-rewards-and-ethics

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.

  continue reading

37 episodes

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