Shows
The Advisors Table PodcastEstate Planning Explained: Will vs Trust in CanadaSolo 25Most Canadians think their will controls everything they own.It doesn't.Your will may only govern a small portion of your assets — while the rest passes outside of it entirely.In this episode, we cover:• The three ways assets transfer when someone dies• Why beneficiary designations can override your will• How joint ownership can bypass probate entirely• What your will actually controls — and what it doesn't• Why powe...
2026-05-2717 minThe Advisors Table PodcastThe Airbnb Tax Nobody Knows AboutSolo 19You put your home on Airbnb.The bookings are strong. The income is rolling in.But according to CRA, your home may no longer be considered a home.It may now be treated as a commercial property — like a hotel.And when you sell, you could face a significant and unexpected tax bill.In this episode, we cover:• How Airbnb can trigger CRA's "chan...
2026-05-2007 min
The Advisors Table Podcast3 Tax Cuts That Weren’t Tax CutsGovernments love announcing tax cuts — but the headline rarely tells the full story.In just four months, three different governments — Federal, NDP, and Conservative — announced major tax breaks. But once you look past the press releases, many of these “savings” either shrink dramatically, trigger hidden tax costs, or quietly increase taxes somewhere else.In this episode, we break down the incomplete story behind these political tax promises. From reduced tax credits to retroactive corporate tax consequences and bracket creep, we show how the real impact is often buried deep inside the legislation — not the headline.In this...
2026-05-1421 min
The Advisors Table PodcastDon’t Buy A Car In 2026 Until You Learn CRA’s RulesBuying a car through your corporation doesn’t make it “free.”And in many cases, it can actually cost you more.In this episode, we break down one of the most common tax myths among business owners — the idea of the “full write-off.” While it sounds simple, the reality involves strict CRA limits, taxable benefits, and hidden personal tax consequences that most people don’t account for.We walk through how corporate vehicle ownership actually works, where the numbers fall apart, and why what seems like a smart tax move can quickly turn into an expens...
2026-05-0741 minThe Advisors Table PodcastCanada Is Running Out of Money For YouSolo 21The government says Canada’s debt is only 10% of the economy — one of the lowest levels in the G7.The real number may be much higher.Interest costs on the federal debt are now exceeding the amount collected through GST, and within a few years are projected to surpass federal healthcare transfers.In this episode, we cover:• How Canada reports a 10% Debt-to-GDP ratio — and what’s excluded from that figure• Why total govern...
2026-05-0508 min
The Advisors Table PodcastWe Checked Carney’s Math. He’s Wrong.Canada just released its 2026 Spring Economic Update — and at first glance, things look better.The deficit is down by $11 billion.But when you dig deeper, the story changes.In this episode, we break down what’s really driving the numbers — and why the “improvement” may have more to do with timing and external factors than actual policy changes. From unspent government commitments to a temporary boost from oil prices, we unpack how the headline doesn’t reflect the full picture.We also dive into Canada’s growing $1.42 trillion national debt, how it’s being pre...
2026-05-0123 minThe Advisors Table PodcastCRA Charges $307/hr to Be RightCRA charges $307 per hour for a tax answer they'll actually stand behind.But if you call the regular phone line and receive incorrect information, you can still end up owing the tax, interest, and penalties.In one court case, a taxpayer relied on CRA phone guidance for years. When CRA later reassessed him, he challenged the decision in court — and lost.In this video, I break down the difference between CRA information services, written interpretations, and binding rulings, and why understanding the distinction matters.In this episode, we cover:• The...
2026-04-2510 min
The Advisors Table PodcastCanada Wants $500K to Let You Leave | Majority, Exit Tax, Bare TrustsThe political landscape in Canada just underwent a seismic shift.Following the April 13 by-elections, the government secured a majority in the House of Commons. This means the “cooperation” era is over, and the administration can now fast-track major tax changes — including expanding CRA audit powers and codifying controversial Bare Trust rules.In this episode, we unpack the proposal discussed at the recent Liberal convention to charge graduates a $500,000 tax for leaving the country to fight “brain drain.” We also dive into the newly passed Bare Trust legislation (Bill C-15), which requires mandatory filings for joint accounts...
2026-04-2238 min
The Advisors Table PodcastIs Your Accountant Actually Helping You?Are you working with a tax preparer or a true advisor?Most professionals and entrepreneurs only see their accountant once a year — to report what has already happened. But in the world of high-stakes finance, historical reporting isn’t the same as proactive strategy.In this episode, we sit down with Junaid Usmani (CPA, CA) to explore the importance of proactive planning, why hiring the right accountant can lead to better financial outcomes, and how utilizing your Lifetime Capital Gains Exemption can save you millions.In this episode, we cover:• How high e...
2026-04-1658 minThe Advisors Table PodcastCRA Is Calling Your Employees Behind Your BackSolo 18CRA may be calling your employees — not you — and asking questions about how tips are handled in your business.Most business owners don’t realize this is happening.And a court ruling many employers have never heard of could mean payroll tax exposure on tips they assumed were not their responsibility.This doesn’t just affect restaurants. If you operate a salon, spa, barber shop, café, bar, or any business where tips pass through the employer, these rules may apply...
2026-04-1007 min
The Advisors Table PodcastThe IRS and CRA Double Tax Trap for CanadiansIn this episode, we sit down with a U.S. tax specialist to uncover why forming a U.S. LLC — often promoted as a simple and tax-efficient structure — can quickly turn into a costly mistake for Canadian residents.While LLCs offer flexibility and liability protection in the United States, the way Canadian tax law treats these entities creates a serious mismatch that can lead to unexpected reporting obligations, double taxation, and significant penalties.In this episode, we break down:• Why U.S. LLCs are often unsuitable for Canadian residents• Why the CRA and IRS...
2026-04-0753 min
The Advisors Table PodcastImmigration Tax Traps That Cost ThousandsIn this episode, we dive into the complex world of Canadian tax residency and the tax traps that many newly immigrated families face unknowingly.From massive penalties for failing to report foreign assets to the hidden tax implications of continuing a business from abroad, we explore why early tax planning is the difference between a successful start and financial ruin in a new country.In this episode, we break down:• How to determine your residency and tax status in the eyes of the CRA• Why Canada taxes you on everything you earn glob...
2026-03-311h 02The Advisors Table PodcastCRA’s 2026 Rule Traps Your Family in an Endless AuditRight now, if the CRA audits you, there’s a time limit.Typically, after a certain number of years, the audit period closes and taxpayers gain some certainty.That protection may be removed.A proposed rule could allow one audit issue to expand into additional years, related taxpayers, family members, and corporations — creating much broader audit exposure than many Canadians realize.In this video, I break down what these proposed CRA powers could mean and why tax professionals, legal groups, and taxpayers across Canada are paying close attention.In this...
2026-03-2807 minThe Advisors Table PodcastCRA’s 2026 Bare Trust Rule - You’re On Your OwnThere’s a new CRA rule coming in 2026 that could affect millions of Canadians — and when it hits, you might not find anyone to help you deal with it.Not your accountant. Not the CRA. Not anyone… unless you’re willing to pay hundreds or even thousands every year.In this video, I break down why the real problem with the proposed Bare Trust rules isn’t just the penalties — it’s the practical reality of compliance.We cover:• What a bare trust is — and why you may already have one• Why many ac...
2026-03-2708 minThe Advisors Table PodcastCRA’s 2026 Rule Punishes You for Helping Family💡 If you’ve ever helped a family member financially — by putting your name on a bank account, property, investment, or other asset — these proposed rules could affect you.Canada is moving toward enforcing new reporting requirements for bare trusts, and the penalties for getting it wrong can be significant — even when no tax is owing.In this video, I break down what a bare trust is, who may be affected, why tax professionals have raised concerns, and what these proposed rules could mean for everyday Canadians.In This Episode, We Cover:• What a bare t...
2026-03-2006 min
The Advisors Table PodcastMost Wills Fail. Here’s WhyIn this episode, we sit down with barrister and solicitor Hasan Naqvi to uncover why most wills fail — not because the will wasn’t prepared, but because those wills no longer reflect people’s lives or intentions.From handwritten wills and intestacy rules to executor responsibilities and dual-will planning, we explore how wills actually function at death — and where they commonly break down.In this episode, we break down:• What actually makes a will legally valid• What happens when someone dies without a will — and how intestacy rules decide who gets what• Why commo...
2026-03-171h 00The Advisors Table PodcastCRA Doesn’t Want You to See This Petition💡 A petition challenging three proposed new CRA powers is gaining momentum across Canada.Within 48 hours, more than 700 Canadians signed the petition — without media coverage, political promotion, or organizational backing.Many Canadians have shared stories of costly reassessments, lengthy disputes, and the significant financial burden of challenging CRA decisions.In this video, I break down why the petition is gaining attention, what concerns taxpayers are raising, and how Canadians can participate in the conversation while the proposed legislation is still being debated....
2026-03-1605 minThe Advisors Table PodcastThey Want Your Kid To Pay ThisA proposal was floated suggesting Canadian graduates should pay $500,000 if they leave the country to work abroad.It sounds extreme — but ideas like this often start as convention discussions before becoming broader policy conversations.What many Canadians don't realize is that Canada already has a form of exit tax built into the tax system today.In this video, I break down the proposal, how Canada's existing departure tax works, and why the discussion raises larger questions about talent, opportunity, and economic competitiveness.In this episode, we cover:• The proposal to c...
2026-03-1506 minThe Advisors Table PodcastCRA’s Bare Trust Costs Will Crush Families💡 If your name is on a property, bank account, or investment that actually belongs to someone else, these proposed rules could affect you.Canada's new bare trust reporting requirements could turn simple family arrangements into ongoing compliance obligations — even when no tax is owing.In this video, I break down how these rules work, who may be impacted, and why many tax professionals have raised concerns about their practical consequences.In This Episode, We Cover:• What a bare trust means in real-life situations• How one family could end up with mult...
2026-03-1505 minThe Advisors Table Podcast3 CRA Powers Coming in 2026 Will Ruin You💡 The federal government is proposing three major new powers for the CRA — and they could fundamentally change how tax audits work in Canada.In this video, I break down the proposed legislation, why tax professionals and legal organizations are raising concerns, and what these changes could mean for taxpayers if they become law.In This Episode, We Cover:• The proposed power for CRA to put taxpayers under oath during an audit• The new $50-per-day non-compliance penalty that could be issued di...
2026-03-1311 min
The Advisors Table PodcastYour Business Partner Can Take EverythingA lot of business owners sign shareholder agreements without really reading them.But these documents control everything — who owns what, what happens if a partner goes bankrupt, how decisions get made, and what happens when someone wants out.In this episode, we discuss the real risks hidden inside shareholder agreements and why many business partnerships run into trouble years later. From giving away 50% equity too early to bringing in the wrong investors, small decisions at the beginning can create major problems down the road.In this episode, we break down:• Why shar...
2026-03-1154 minThe Advisors Table PodcastHe Lost $5M to the CRA Because He Trusted His Accountant💡 The Canada Revenue Agency is currently in the most aggressive weeks of its fiscal year.According to findings from the Auditor General, approximately 40% of audit files are closed in February and March. That means tighter deadlines, faster reassessments, and increased pressure to finalize files before year-end.In this video, I break down:• Why 65% of objections are decided fully or partially in the taxpayer’s favour• What "Tax Earned by Audit" (TEBA) means and why it matters• Why year-end pressure can change auditor behaviour• What to do before CRA contacts...
2026-03-0614 min
The Advisors Table PodcastCRA’s Net Worth Audit - How They Prove You’re Hiding MoneyUnderstanding CRA Net Worth AuditsA net worth audit is one of the most invasive audits conducted by the CRA.Unlike a typical audit that reviews a deduction or income line, a net worth audit attempts to reconstruct your entire financial life: assets, lifestyle, gifts, business purchases, real estate, and even what you post online.When lifestyle and reported income don’t align, questions start.In this episode, we discuss:• What a net worth audit actually is• How a routine audit can unexpectedly escalate into a net worth audit
2026-03-0450 minThe Advisors Table PodcastCRA’s 5 Most Dangerous Weeks (Now)💡 The Canada Revenue Agency is currently in the most aggressive five weeks of its fiscal year.The Auditor General found that approximately 40% of audit files are closed in February and March. That means tighter deadlines, faster reassessments, and increased pressure to finalize files before March 31.In this video, I break down:• Why 65% of objections are decided fully or partially in the taxpayer's favour• What "Tax Earned by Audit" (TEBA) means and why it matters• Why year-end pressure changes auditor behaviour• What to do before CRA contacts you• What...
2026-02-2711 min
The Advisors Table PodcastEP 11- Should Your Money Live in a Corporation or Personally?Should you invest personally or corporately?It sounds like a simple question — but for business owners in Canada, the answer can mean tens or even hundreds of thousands of dollars in tax differences over time.In this episode of Advisors Table, we break down the real differences between investing inside your corporation vs. investing personally.In this episode, we unpack:• The difference between registered and non-registered personal investing• When it makes sense to invest personally vs. through your corporation• How corporate investment income is taxed• How corporate investing creates a...
2026-02-261h 09The Advisors Table PodcastCRA Trap of Excess Corporate CashTwo business owners sold nearly identical companies for $3 million each.One paid $800,000 in tax.The other paid close to zero.In this video, I break down the five tax mistakes that created an $800K difference — and a real deal that collapsed entirely because nobody planned ahead.In this episode, we cover:• How treating tax as an afterthought can cost you hundreds of thousands• Why failing to qualify for the $1.25M Lifetime Capital Gains Exemption can cost $334,000• How one simple purification step could have preserved the exemptio...
2026-02-1911 min
The Advisors Table PodcastHelping Your Kids? CRA Takes a CutHelping your family should not create a tax problem. But in Canada, that is not always the case.In this episode of The Advisors Table, we discuss how ordinary family decisions — gifting money, transferring property, helping a child invest, or using a shareholder loan — can trigger serious and often unexpected tax consequences.In this episode, we break down:• Why helping your kids can trigger tax for you — not them• How attribution rules apply to children under 18• The difference between gifts and loans — and why it matters• Section 56 family loan rules for adult childr...
2026-02-1755 minThe Advisors Table PodcastCRA Penalizes You $334K For Having CashYou might be losing $334,000 in tax savings right now.If you're a Canadian business owner with excess cash, investments, or intercompany loans inside your operating company, you could be blocked from claiming your $1.25 million Lifetime Capital Gains Exemption (LCGE).In this video, I break down:• The 3 tests your company must pass to qualify for the LCGE• Why most business owners fail the 90% active asset test• How excess cash, loans to holding companies, and investments can disqualify you• A real example of a business owner who lost $334,000 in tax savi...
2026-02-1211 min
The Advisors Table PodcastBeing an Executor Can Cost You PersonallyIn this episode of Advisors Table, we break down the hidden risks executors face when handling an estate, and why “doing everything right” still isn’t always enough to protect you from CRA reassessments, penalties, and personal liability.From Reddit stories about 30+ years of non-filing to real-world cases where executors were forced to pay tax bills out of their own pockets, this conversation walks through how estates are reviewed, why clearance certificates matter, and how past transactions can resurface years later.This isn’t about fear — it’s about knowing the rules before you’re responsible fo...
2026-02-051h 23The Advisors Table PodcastLost a CRA Audit? You Can Still Win (62%)You lost a CRA audit and received a Notice of Reassessment.Does that mean it’s over?No.In this episode, I break down what actually happens after you lose an audit — and why filing an objection can still change the outcome.We cover:• What a CRA objection really is• The strict deadlines you cannot afford to miss• What happens to the tax balance while your objection is under review• When CRA can still collect (and when they usually won’t)• Why interest kee...
2026-02-0511 minThe Advisors Table PodcastCRA Tax Rule That Wipes Out InheritancesA family builds $7.9 million over a lifetime — and loses more than $5 million after one accident.In this episode of Advisors Table, we walk through a real-world estate scenario where death triggers a chain reaction of personal tax, corporate tax, probate, and double and triple taxation. The result: over 60% of the family’s wealth disappears — not because of bad investments, but because of missing planning.In This Episode, We Cover:What “deemed disposition” means when someone dies in CanadaWhy RRSPs, corporations, and holding companies trigger massive tax billsHow probate fees are calculatedWhy estates often face a liquidity crisisHow the Lifetime C...
2026-01-3013 min
The Advisors Table PodcastCRA Bill That Destroys Wealth After DivorceIn this episode of Advisors Table, we walk through a real-world family wealth and tax planning scenario that many parents never expect to face: what happens when a “gift” to help a child buy a home collides with separation, divorce, and tax rules.This conversation highlights how undocumented gifts and misunderstanding CRA rules can leave parents with no protection — and no recovery.In this episode, we cover:• Ontario equalization rules explained simply• The matrimonial home trap• How parental gifts and inheritances lose protection• How parents can protect themselves with mortgages, promissory not...
2026-01-2747 minThe Advisors Table PodcastCRA Can See Your Crypto Wallet — NowHow CRA Tracks Crypto Wallets — Even When You Think You're AnonymousMost crypto traders believe their wallets are private.They're not.In this episode of Advisors Table, we break down how CRA goes from your name to your wallet — and from one transaction to your entire crypto history.From exchange data and blockchain analysis to bank reporting and global crypto disclosure frameworks, this video walks through how crypto audits actually work in real life — not just in theory.If you've ever moved coins off an exchange, staked, mined, used DeFi...
2026-01-2313 min
The Advisors Table PodcastThe Audit Machine - What 53,000 CRA Employees Are Actually DoingWith a $22B budget and over 53,000 employees, the Canada Revenue Agency (CRA) isn’t relying on random selection. It’s using risk models, industry benchmarks, data matching, and third-party reporting to identify patterns that stand out.If you’re a business owner, contractor, investor, or high-income earner, this episode shows how CRA’s audit machine actually operates behind the scenes — what triggers reviews and audits, and what you can do to reduce your risk before CRA comes knocking.In this episode, we discuss:• How CRA identifies “high-risk” taxpayers• Why refunds and audits can be delayed for...
2026-01-201h 20The Advisors Table PodcastCRA Turned $250K Profit Into $1.2M In TaxesIn 2017, a man flipped a house in Toronto and made a $250,000 profit. Six years later, CRA audited him and hit him with a $1.167 million tax bill.This isn't a clickbait headline. It's a real audit case — and it could happen to anyone.In this video, I break down exactly how a $250,000 profit turned into a $1.167 million tax nightmare, and what we did to fight it.In This Episode, We Cover:• How a $250,000 profit turned into a $1.167 million tax bill• When CRA treats you as a builder for HST purposes•...
2026-01-1715 min
The Advisors Table PodcastLeaving Canada? Here’s What the CRA Wants You to KnowAccording to Statistics Canada, approximately 500,000 people left Canada in 2024 — a staggering number that raises serious questions about affordability, taxation, and long-term planning.In this episode of Advisors Table, we unpack why more Canadians — especially professionals and business owners — are considering leaving Canada, and the often-overlooked tax consequences that come with that decision.Leaving Canada isn’t as simple as booking a flight. From departure tax to residency rules, poor planning can trigger unexpected six- or seven-figure tax bills.In this episode, we cover:• What departure tax is and why it catches people off...
2026-01-1359 minThe Advisors Table PodcastCRA’s 3 Biggest Audit Targets in 2026If you earned income from crypto, flipped real estate, or operate through a corporation, there's a strong chance you're already on CRA's radar going into 2026.In this video, I break down the three audit patterns CRA is targeting most aggressively — based on real audit files I'm seeing every week — and the exact triggers that are leading to reassessments.CRA is no longer "taking a guess." They're pattern-matching data across platforms, pulling third-party records, and using automated analytics. Many taxpayers don't realize they're exposed until the audit letter arrives.In this video, you'll learn:
2026-01-0616 min
The Advisors Table PodcastCanada Tax Wrapped 2025 (It was Bad)2025 was absolutely wild for Canadian taxes. Let’s recap the chaos.Remember the GST holiday mess in December 2024? That was just the beginning.Chrystia Freeland resigned. Trudeau fell. Trump got elected and inaugurated. The capital gains tax became a legal nightmare. CRA got sued for enforcing rules that didn’t exist. The federal election shocked everyone. And through it all, CRA tried to go digital… and it went about as well as you’d expect.In this episode of The Advisors Table, Parveen and I walk you through what actually happened inside CRA and Fina...
2025-12-301h 15The Advisors Table PodcastCRA Takes 80% When You DieWhen you die owning a corporation in Canada, the CRA can take up to 80% of its value through layers of taxation — leaving your family with almost nothing.In this video, I break down how this actually happens using a simple $1 million corporation example, and why most business owners only discover this problem when it's already too late.You'll learn:• How CRA applies a deemed disposition when you die• How a $1M corporation can trigger over $800K in total taxes• How capital gains tax, dividend tax, and corporate tax stack together...
2025-12-2612 min
The Advisors Table PodcastThe $10M Tax Bill When a Business Owner DiesWelcome to Episode 4 of Advisors Table.In this episode, we walk through a real client scenario that highlights the risks of taxes on death and corporate structure planning. Learn how poor planning can lead to rushed asset sales and lost value — and how careful structuring can protect families and businesses.In this episode, we cover:• How taxes on death are calculated in Canada• Risks founders face when planning is delayed• Hidden tax and probate exposure• What purification is and why it matters• Estate freezes and family trust strategies• Lifetime capit...
2025-12-231h 38The Advisors Table PodcastCRA Ends 14-Year Break - Truckers Losing MillionsThe Canada Revenue Agency has officially ended a 14-year moratorium, putting incorporated truck drivers across Canada at risk of Personal Services Business (PSB) reclassification — which can mean higher taxes, denied deductions, and larger reassessments.In this video, you'll learn:• What the CRA's moratorium was and why its removal matters• Why Budget 2025 allocated $77 million to enforcement in this area• What a Personal Services Business (PSB) is and how the CRA defines it• The employee vs. contractor test the CRA uses for truck drivers• Why the CRA and labour authorities...
2025-12-1914 min
The Advisors Table PodcastCRA Voluntary Disclosure Program 2025 Explained | What’s Changed & What It MeansWelcome to Episode 3 of Advisors Table — where we break down the CRA’s Voluntary Disclosure Program (VDP) and the practical implications of the 2025 changes.In this episode, we uncover:• The difference between prompted vs. unprompted disclosures and why it matters• How CRA letters, limited reviews, questionnaires, and public leaks can affect your VDP status• Why timing and connection of issues determine whether your disclosure is considered prompted• How to handle missing records and still make a valid disclosure• Common fears: Will CRA see me as...
2025-12-161h 23The Advisors Table PodcastStrange Tax Scenarios: Paying Taxes Without Making Money or Donating Big!The 2024 AMT changes created some of the strangest tax outcomes in Canada — including situations where you can lose money or donate to charity and still owe a major tax bill.In this video, I break down what changed with the Alternative Minimum Tax (AMT), why tax bills are suddenly higher, and two real examples every founder, investor, and donor should understand.Watch to learn how AMT works and how to plan around it.#TaxPlanning #CanadianTaxes #AMT #AlternativeMinimumTax #TaxStrategy
2025-12-1208 min
The Advisors Table PodcastWe Can’t Build Affordable Housing While Taxing It Like A Luxury TaxWelcome to Episode 1 of Advisors Table — where we unpack what it truly means to be sale-ready.In this episode, we discuss:• What “sale-ready” actually means• How structuring early can save millions in tax• QSBC shares & the $1.25M LCGE• The CRA’s 24-month holding rule• Purification: what it is & why it matters• Asset sale vs. share sale• How trusts multiply the LCGE• Life insurance inside an InvestCo• Buyer-side due diligence• Hidden liabilities that kill deals• Succession & intergenerational planning• Bill C-208 and selling to your childrenTimestamps:00:00 — I...
2025-12-0942 min
The Advisors Table PodcastHow to Make Your Company Sale-Ready — Structuring Before the Buyer Shows UpWelcome to Episode 1 of Advisors Table — where we unpack what it truly means to be sale-ready.In this episode, we break down:• What “sale-ready” actually means• How structuring early can save millions in tax• QSBC shares & the $1.25M LCGE• The CRA’s 24-month holding rule• Purification: what it is & why it matters• Asset sale vs. share sale• How trusts multiply the LCGE• Life insurance inside an InvestCo• Buyer-side due diligence• Hidden liabilities that kill deals
2025-12-041h 36