The May 2025 edition of Life in the Tax Lane is now available — packed with timely updates every Canadian accountant needs to know.
In this fast-paced 10-minute episode, the Video Tax News team covers:
- CRA’s tax slip upload delays — T1 season is not done yet!
- Repeated failure to report income — how missing slips can lead to big penalties
- CRA updates on trust and bare trust reporting — and what to fix from last year
- A real-world T1135 case — foreign assets, missed filings and steep consequences
- CRA’s shift to online-only mail for businesses — prepare and protect your clients
- Canadian Dental Care Plan expansion — and why a timely return matters
Topics: Delayed Tax Slips | Repeated Failure to Report Income – Returns Filed Concurrently | Trust Reporting – CRA Guidance Update | Form T1135 – Multiple Penalties | Transition to CRA Digital Mail for Businesses | Canadian Dental Care Plan
Sources: https://www.videotax.com/web-tips-articles/life-in-the-tax-lane-may-2025-episode-120
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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.