You asked for it... an episode on the 2024 Federal Budget geared towards non-tax practitioners!
I fully intended to make this a mini-episode, but there was just SO MUCH to discuss, that I ended up talking for over 30 minutes - I hand-picked a few of the key changes to discuss, but if there are other items you would like me to address in a future episode, please let me know!
In this episode, I cover:
- History of the Federal Budget and why it matters - including why I call it the "Oscars" for tax professionals, and my plea to get a golden ticket to be part of the budget lockdown (3:52)
- Capital gains - what are they, how are they taxed, and what are the proposed changes? (12:35)
- What is the lifetime capital gains exemption, and how did it change? (27:30)
- Tax Litigation hot topics, including the proposed expansion to s. 160 of the Act, "notice of non-compliance" and the new ability to request documentation/information under oath. (29:32)
RESOURCES DISCUSSED IN THIS EPISODE:
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What is The Tax Chick Podcast?
Tax is complex, but it does not always have to be so complicated and shrouded in mystery. Host Amanda Doucette is a self-proclaimed foodie, spin class and Pilates enthusiast, and a tax lawyer. She fell into the practice of tax law despite having a life-long hatred of spreadsheets, math and numbers in general. Join Amanda and her guests as they unpack some serious Canadian tax topics and attempt to demystify the world of tax.