TaxBreaks Podcast

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Welcome to TaxBreaks, a tax podcast where difficult tax issues are translated into plain English and discussed in an open and frank manner. Sometimes, we even have a little lighthearted fun.

TaxBreaks features informed discussion and lively debate on tax-related issues in Canada, the United States, and around the world. Please note: the opinions expressed are solely our own and do not express the views or opinions of the CRA, IRS, or any other federal agency or tax governing bodies.

Episode 026 – Year End Tax Loss Selling

In this episode of TaxBreaks, Kenneth Keung and Kim GC Moody discuss year-end tax loss selling that is very common towards the end of the calendar year. The objective of tax loss selling is to try to claim losses on non-registered investments against realized capital gains so as to reduce capital gains taxation upon filing…

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Episode 025 – Residential Property Flipping Proposal

In this latest podcast episode, Kenneth Keung and Kim G C Moody describe the April 7, 2022, Canadian Federal Budget proposal that will introduce a new “Residential Property Flipping” income tax rule. Kenneth and Kim discuss the history and context behind the principal residence exemption, what the new proposals state, proposed exceptions to the new…

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Episode 024 – The New Canadian Trust Reporting Rules

The 2018 Canadian Federal Budget introduced proposals that will require certain trusts to disclose significant information about the trust. Later in 2018, draft legislation was introduced to implement such proposals to become applicable for the 2021 taxation year. However, the proposals ended up getting delayed until the 2022 taxation year and the draft legislation was…

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Episode 023 – Personal Use Assets Owned by a Corporation

As a follow up to their last podcast on the Jackman court case, Kenneth Keung and Kim G C Moody chat about the dangers of owning personal-use assets inside a corporate vehicle.

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Episode 022 – Are Pleasurable Marketing Activities a Taxable Benefit

In this podcast, Kenneth Keung and Kim G C Moody review a recent Tax Court of Canada decision – Bruce Jackman / Nancy Jackman v. HMQ 2022 TCC 73. This case is a rather entertaining case (at least for tax geeks 😂) which dealt with the amount, if any, of the taxable benefit received by…

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Episode 021 – The Saga of Bill C-208 Continues

Our firm’s July 5, 2021 podcast described the saga of Bill C-208 (a Canadian private members bill that provides for inter-generational transfers of certain shares of Canadian-controlled private corporations) that received Royal Assent on June 29, 2021 that was accompanied a day later by a very misleading and confusing press release by the Department of…

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