The Advisors Table Podcast

A holding company can be one of the most valuable planning tools in Canada. Or it can be a complete waste of money. For the right person, it can protect assets, improve tax planning, and preserve opportunities that would otherwise be lost. For the wrong person, it’s just unnecessary cost and complexity. In this episode, we cover: • The 5 Signs you may actually need a holding company • Why surplus...

Most Canadians think the tax bill on their RRSP comes when they retire. For many families, the biggest tax bill comes when they die. A $1 million RRSP can trigger hundreds of thousands of dollars in tax on a final return — often at rates higher than what many people paid during their working years. But there is a little-known provision in the tax rules that can dramatically reduce that tax for fam...

Solo 25 Most 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 c...

Solo 19 You 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 "change in use" rules • Why short-te...

Governments 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 incom...

Buying 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 thr...

Solo 21 The 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 exclude...

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...

CRA 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 differ...

The 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 a...

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 acc...

Solo 18 CRA 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, ba...

In 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...

In 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 e...

Right 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 vide...

There’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 realit...

💡 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 a...

In 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 th...

💡 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 w...

A 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, ho...

💡 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...

💡 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 taxp...

A 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...

💡 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...

Understanding CRA Net Worth Audits A 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. I...