Brainstorming (+ tax)

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December 12, 2018  

Episode 021 - Foreign Currency Transactions: the real devil in the details

Think you understand foreign currency transactions, think again.  In this episode we go through what seems at first to be a very basic transaction, only to discover there is more than meets the eye when it comes to foreign exchange transactions and foreign currency bank accounts.

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November 28, 2018  

Episode 020 - Upcoming Changes to the Canada Pension Plan (CPP)

In this episode we talk about the changes coming to the CPP in 2019, and what to expect going forward as the contribution rate climbs from 4.95% to 5.95% over the next 6 years in addition to the increase in the Yearly Maximum Pensionable Earnings (YMPE) amount.

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November 14, 2018  

Episode 019 - What Fiscal Year End Should I Pick?

We commonly are asked, what difference does a fiscal year end make in a corporation?  In this episode we discuss some of the more common tax reasons and non-tax reasons for fiscal year end choices.

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October 31, 2018  

Episode 018 - Finally it Pays to be Unreasonable to your Spouse

Are you concerned about the Tax On Split Income affecting your family's taxes? Then you are going to want to listen to this brainstorming episode on being unreasonable on purpose!

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October 3, 2018  

Episode 016 - Whether (and when) to stop contributing to the CPP

Prior to 2012 Canadians did not have a choice to when they stopped contributing to the CPP. Now that there is a choice, we get into what your options currently are.

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September 26, 2018  

Episode 015 - No More Credits, No More Books: the 2018 Update on Tax Assistance for Education Costs

There are 4 different credits that used to be available to students in 2016 that have since been eliminated. Do you know what they are?

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September 19, 2018  

Episode 014 - Is it Time for a Canada Tax Shuffle Plan

Many tax planners may remember the tax plan called the Alberta Shuffle.  Is it time to look at changing the rates to create a Canada Shuffle? #CdnTax #cdnpoli 

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September 5, 2018  

Episode 012 - Tax On Split Income (TOSI) - a Technical Explanation

In the last episode we had some fun with the Tax On Split Income (TOSI) rules, but it really is time to get serious about them. 

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August 29, 2018  

Episode 011 - Tax On Split Income (TOSI) - The Small Business Escape Room Game

The Tax On Split Income (TOSI) rules are written like a bad “escape room” game. The way these rules are written, everyone is caught… unless you can escape… and the exits are not clearly marked.  In this episode, Cory G. Litzenberger tries to help you navigate these rules in a high-level tongue-in-cheek approach to them.

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August 22, 2018  

Episode 010 - Even if You Follow the Law, Can You Pass the Smell Test?

Taxpayers that follow the letter of the law in the Income Tax Act might not realize that there is a "catch-all" provision that is what we call the "smell test." If it stinks like GAARbage, the CRA will reassess you.

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