The June edition of Life in the Tax Lane is here! In this month’s episode, the Video Tax News team covers key updates following the federal election, including proposed tax changes, CRA enforcement, automatic individual tax filing and a review of the corporate tax system. Learn what the drop in the lowest personal tax rate means for payroll and credits.
We also address CRA’s incorrect capital gains exemption assessments and how to protect objection rights.
Plus, CRA is rolling out mandatory online mail for most business accounts—GST, payroll and corporate tax included. We explain how this impacts representatives and why keeping client info current is critical.
Topics: New Government – Tax Changes? | Personal Tax Rate Reduction | Capital Gains Exemption – 2024 Assessment Errors | CRA Online Mail for Businesses | Represent a Client – Employer Responsibility
Late Breaking: CPA Canada has reported that CRA is aware of incorrect assessments related to the lifetime capital gains exemption and will take corrective action. No action is required by affected taxpayers.
Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-june-2025-episode-121
Don’t miss our 25% off Ethics Course Bundle and more resources at videotax.com.
Program recorded: May 22, 2025
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.