April's Life in the Tax Lane is Now Available!

Just when Canadians thought spring had arrived, Mother Nature threw us a curveball with late-season snow, ice storms, and enough potholes to keep our suspension shops busy across the country. As we shovel out (again!), dodge those springtime craters, and gear up for a busy tax season, set aside 10 minutes to catch the latest edition of Life in the Tax Lane! This free, fast-paced video, designed for Canadian tax professionals, delivers insightful updates on key tax developments from the past month.

What’s in store this month?

April’s edition of Life in the Tax Lane dives into several pressing topics for Canadian tax professionals.

Gig Workers
A new H&R Block survey revealed that 30% of gig workers don’t plan to fully report their income for 2024, but with new disclosure requirements for platforms like Airbnb and Uber, 71% are reconsidering.

Federal Carbon Tax
Prime Minister Mark Carney’s directive eliminated the federal carbon tax, but questions remain about small business carbon rebates, which CRA still considers taxable due to pending legislative changes.

Taxpayer Relief – Capital Gains Inclusion Rate
Delayed forms, inconsistent communication, and ongoing uncertainty surrounding the capital gains inclusion rate have left many taxpayers in limbo—although late-breaking news on March 21, 2025, brought some relief as Carney announced the cancellation of the proposed increase.

Ombudsperson's Report on Bare Trust Rules
The Office of the Taxpayers’ Ombudsperson also weighed in on last year’s bare trust filing confusion, tasking CRA with improving processes to minimize future compliance burdens.

Topics: Gig Workers| Federal Carbon Tax | Taxpayer Relief – Capital Gains Inclusion Rate* | Ombudsperson's Report on Bare Trust Rules

*Late Breaking News: On March 21, 2025 – Prime Minister Mark Carney announced the cancellation of the proposed increase to the capital gains inclusion rate. 

Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-april-2025-episode-119

Program recorded March 20, 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.