Category: Canadian Tax

Canadian Tax Podcast 026: Medical dues; Non-capital losses; Add spouse to title;

Posted on by cware

Canadian Tax Podcast for the week of November 30, 2021. This week we cover:

  • Bill C-2;
  • Remote Work;
  • CRA’s Cryptocurrency guide;
  • Digital Service Tax;
  • Deducting medical dues from multiple Provinces;
  • Application of non-capital losses;
  • Adding a spouse to house title;

Continue reading “Canadian Tax Podcast 026: Medical dues; Non-capital losses; Add spouse to title;”

Podcast: Play in new window | Download

Canadian Tax Podcast 003 – CEBA Loans/Accrual Method/Subcontractor Expenses

Posted on by cware

This week on Canadian Tax Podcast, we cover:

  • A tax payer with an $8mil tax bill;
  • 800,000 Canadians locked out of MyAccount;
  • New guidance on incorrect CERB T4A’s
  • Listener questions on CEBA, accrual/forex for self employed, and Subcontractor expenses on the T2125;

Continue reading “Canadian Tax Podcast 003 – CEBA Loans/Accrual Method/Subcontractor Expenses”

Podcast: Play in new window | Download

What To Do With Incorrect T5008’s (TSP#3)

Posted on by cware

This episode continues the 2020 Tax Season Special Series, where Canadian Tax Podcast answers random questions related to the 2020 tax filing season.

This episode covers T5008’s in more detail, specifically:

  • What to do when you have a million T5008’s issued;
  • Why you can’t always rely on your broker gain/loss report;
  • Link to Chen case here.

Continue reading “What To Do With Incorrect T5008’s (TSP#3)”

Podcast: Play in new window | Download

Canadian Tax Podcast 002 – CCA on Rentals / Mortgages for Self Employed / TFSA

Posted on by cware

Canadian Tax Podcast for the week of March 8th, 2021. In this episode we cover:

  • Filing deadlines;
  • Issues with CERB/CRB T4A slips;
  • Still no Federal budget;
  • Listener question: CCA Allowance on rentals;
  • Listener question: Mortgage approvals – Should a person go for high income/high tax or low income/low tax when it comes to mortgage applications and interest rates?
  • Listener question: TFSA;

Continue reading “Canadian Tax Podcast 002 – CCA on Rentals / Mortgages for Self Employed / TFSA”

Podcast: Play in new window | Download

T3’s / Record Storage / Wrong T5508’s (Tax Season Special #1)

Posted on by cware

With Feb 22nd being the start of Tax Season 2020, I thought it would be a good idea to just start answering questions via “Tax Season Specials.” In this episode I cover:

  • Entering T3 slips on a T2;
  • Having CRA store your records, and why that’s a bad idea;
  • Incorrect T5008 and what to do;

Thanks for listening.

Usual Disclaimer: This information is for general information purposes only, and deals with complicated and time-sensitive info that may not apply to your situation. Tax rules are always changing, and this information may not be current. Tax is complicated, this information is not tax advice, and don’t rely on this info to make tax decisions – Hire someone to help you.

Podcast: Play in new window | Download

Episode Zero: What Is This Nonsense?

Posted on by cware

The Internet told me that an Episode Zero is where I’m supposed to tell about what this Podcast is all about. Okay then.

The Canadian Tax Podcast is a weekly show that provides commentary, tax updates, tips, and resources, for your average Canadian and Canadian business. CRA and the Big Banks are terrible at this stuff, so the podcast is my best attempt to at least give some common-sense help to the listener. We publish every Monday.

Thanks for listening, and if you have any business or tax questions send them to questions@canadiantaxpodcast.ca

Continue reading “Episode Zero: What Is This Nonsense?”

Podcast: Play in new window | Download