September, 2026
Back-to-school season comes with a few lessons for tax practitioners too. This month, the Video Tax News team looks at cautionary court cases, practical CRA guidance on voluntary disclosures, and one heroic accountant whose recordkeeping made all the difference.
This month’s episode covers:
- Life Insurance – Return of Premiums: Could a client getting their term life insurance premiums back result in an unexpected tax bill?
- Taxpayer Due Diligence: Recent court cases offer cautionary examples of clients failing to demonstrate taxpayer due diligence.
- Voluntary Disclosures – CRA Q&A: CRA provides guidance on pre-disclosure discussions, VDP eligibility and non-compliance extending beyond the minimum reporting period.
- Aggressive Tax Claims – Statute-Barred Period and Penalties: Recent court cases highlight why CRA may be able to reopen otherwise statute-barred years, including unsupported tax claims and credibility issues.
- Supporting Documentation: A positive court outcome shows the value of an accountant’s working papers when a client’s original invoices are no longer available.