This free, fast-paced video, designed for Canadian tax professionals, delivers insightful updates on key tax developments from the past 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 RulesThe 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.