February 2025 - Uncertain and Unlegislated Proposals | Select 2024 and 2025 Developments | Late Objections | Automatic Tax Filing? | Donation by Spouse Prior to Marriage | Losses from Personal Scams

Life in the Tax Lane (Canada)

February's Life in the Tax Lane is here! A new month brings new tax developments! As we move further into 2025, stay ahead with the latest edition of Life in the Tax Lane. This free, fast-paced 10-minute video for Canadian tax professionals delivers insightful discussions on key updates shaping the world of Canadian tax.

This month, the Video Tax News Team discusses the uncertainty surrounding unlegislated tax proposals, including the capital gains inclusion rate increase and CRA’s evolving approach to administering unenacted rules. Stay informed on selected 2024 and 2025 developments affecting trusts, short-term rentals, and CPP contributions and more. The discussion also covers important timing considerations for filing objections, CRA’s potential move toward automatic tax filing for certain taxpayers, the tax treatment of pre-marriage charitable donations by a spouse, and that losses from personal scams are non-deductible in most cases.

Topics: Uncertain and Unlegislated Proposals | Select 2024 and 2025 Developments | Late Objections | Automatic Tax Filing? | Donation by Spouse Prior to Marriage | Losses from Personal Scams

Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-february-2025-episode-117

Program Recorded: January 28, 2025

NOTE: This episode was recorded prior to the capital gains inclusion rate change deferral. For information on that change, see:
Finance release - https://www.canada.ca/en/department-finance/news/2025/01/government-of-canada-announces-deferral-in-implementation-of-change-to-capital-gains-inclusion-rate.html
CRA release - https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2025/update-cra-administration-proposed-capital-gains-taxation-changes.html

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.