The Advisors Table Podcast

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A Canadian tax podcast for business owners and their advisors. CPAs, lawyers and valuators break down corporate tax, holding companies, estate planning, business sales, CRA audits, US and cross-border tax, business valuations and corporate legal planning.

Oct 22

CRA’s New Powers Got Worse. Here’s Who Gets Hit

Bill C-31 has passed a key vote in Canada's House of Commons, but it isn't law yet. The proposed legislation could give the Canada Revenue Agency (CRA) three new audit powers, raising important questions about taxpayer rights, audit timelines, and penalties. In this episode of The Advisors Table, we break down the proposed changes, explain what the CRA can already do, and explore how these powers could affect ordinary Canadians, business owners, and investors. We examine the proposed $50-per-day penalty for non-compliance, the possibility of audit deadlines being paused indefinitely, and a potential 10% penalty on disputed tax amounts in certain court proceedings. We also look at CRA dispute data, including the reported 150,627 disputes filed in 2025 and the share of disputed tax dollars returned to taxpayers in resolved cases. In this episode, we cover: The three new CRA audit powers proposed under Bill C-31 What the CRA can already do under existing rules Why the government says stronger audit powers are needed How daily fines and extended audit timelines could affect taxpayers The potential consequences for people dealing with crypto, rental properties, and other complex tax matters What CRA's dispute statistics reveal about the current system The proposed legislation's status and how Canadians can make their voices heard The goal isn't simply to make audits faster. It's to understand how these changes could affect fairness, accountability, and the rights of Canadian taxpayers. Take Action If you want to learn more about the proposed legislation or share your views with elected representatives, explore these resources: Send a letter to your MP: https://theadvisorstable.com/campaign Sign the petition: https://c.org/2gQ9Wmb9jq Find your Member of Parliament: https://www.ourcommons.ca/members/en Further Resources 3 CRA Powers Coming in 2026 Will Ruin You: https://www.youtube.com/watch?v=ekt9CqQaTNw CRA's 2026 Rule Traps Your Family in an Endless Audit: https://www.youtube.com/watch?v=_CtW6XnXnkg Free tax resources: https://theadvisorstable.com/resources Connect with The Advisors Table Instagram: https://www.instagram.com/advisorstablepodcast/ LinkedIn: https://www.linkedin.com/company/the-advisors-table-podcast/ Looking for Trusted Tax Advice? Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group. Email: sunny@cedargroup.ca Website: https://www.cedargroup.ca/ Disclaimer: This episode is for educational and informational purposes only and does not constitute tax, legal, or financial advice. Legislative proposals and tax rules can change. Consult a qualified professional about your specific circumstances before making financial decisions. Sources discussed include LEGISinfo, CRA data released through access-to-information requests, published CRA objection-processing information, Auditor General of Canada reports, Department of Finance publications, and Statistics Canada.
Sep 24

How To Get Paid By US Clients (Canadian Corp)

If you're a Canadian corporation billing a US client, your setup may look perfectly normal—until CRA decides it looks like employment. CRA is reviewing a specific profile: one shareholder, one client, full-time hours, and working inside the client's systems. If your corporation is classified as a Personal Services Business (PSB), the tax consequences can be enormous. In this episode of The Advisors Table, we break down the tax implications of working with US clients, from W-8BEN-E forms and GST/HST registration to salary versus dividends and the risk of a retroactive CRA reassessment. In this episode, we cover: What the W-8BEN-E actually does for Canadian corporations Why an incomplete treaty claim can trigger 30% US withholding Why you may need to register for HST, even when charging your US client 0% Salary vs. dividends when you have one major US client How CRA determines whether your corporation is a Personal Services Business Four key decisions that can increase or reduce your PSB exposure Having a US client doesn't automatically create a tax problem. What matters is how CRA views your working relationship. If CRA determines you're effectively an employee, your corporation could face a 44.5% tax rate retroactively. Discover the steps you can take to structure your corporation, understand your tax obligations, and reduce your exposure to costly reassessments.
Jul 16

Family Trusts Explained: Why the Wealthy Never Gift Their Kids Anything

Most parents believe the best way to help their children is to give them assets early. Sometimes, that's the most expensive mistake they can make. Once you gift an asset, the decision is permanent. Ownership changes—and so does your control. In this episode of The Advisors Table, Sankalp (Sunny) Jaggi explains why gifting assets to your children isn't always the smartest estate planning strategy, and how a family trust can help you protect your wealth while maintaining flexibility and control. Together, we discuss: Why putting assets in your children's names can create irreversible problems How a family trust allows you to retain control without giving up ownership The tax strategy behind a real-life case study where one family paid $1.6 million in tax while another paid just $270,000 When your children should actually inherit your wealth The two situations where a family trust makes sense—and when it doesn't How estate freezes and the Lifetime Capital Gains Exemption can preserve family wealth Common misconceptions about trusts, inheritance, and estate planning A family trust isn't about avoiding your family. It's about protecting what you've spent a lifetime building while keeping your options open for the future. If you own a business, investment properties, or a growing investment portfolio, this episode offers practical insights into the tax and estate planning decisions that can have a lasting impact on your family's financial future. Disclaimer: This episode is based on a real client scenario. Names and certain details have been changed to protect client confidentiality. The discussion is intended for educational purposes only and should not be considered legal, tax, or financial advice. Always consult a qualified professional before making financial decisions.
Jun 24

Do You Actually Need a Holding Company? (Canadian Tax Advisor)

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 corporate cash can become a hidden risk• How investment income can create avoidable tax problems• The costly mistake one real estate investor was making every year• Why business owners should think about planning long before a sale• Who should not set up a holding company The biggest mistake isn’t failing to create a holding company. It’s creating one before you know whether it solves a problem you actually have. 🔗 Links: Instagram: /advisorstablepodcast LinkedIn: /the-advisors-table-podcast Free Holding Company Decision Guide:https://www.theadvisorstable.com/reso... 📞 Looking for Trusted Tax Advice? Connect with Sankalp (Sunny) Jaggi, CPA, CA, MTax, CFF at Cedar Consulting Group 📧 Email: sunny@cedargroup.ca 🌐 Website:https://www.cedargroup.ca/ 🔔 Subscribe for real-world tax scenarios that show what happens without planning. 👇 Comment below: Which of the five signs sounds most like your situation? LEGAL DISCLAIMER: This video is based on a real case, but names and some details have been changed to protect client confidentiality. This content is for educational purposes only and does not constitute legal or tax advice. Always consult with a qualified tax professional before making financial decisions. #TheAdvisorsTable #HoldingCompany #RRSP #TFSA #Tax #WealthPlanning #TaxPlanning #CPA 00:00 Introduction: When a Holding Company Makes Sense 00:59 Sign #1: Investment Income Is Being Taxed Too Early 01:53 The Hidden Cost of Taxable Investment Accounts 03:00 How Holding Companies Create Tax Deferral 04:01 RRSP & TFSA Come First 04:50 Sign #2: Cash Is Piling Up Inside Your Business 05:23 Protecting Business Savings from Operating Risks 06:04 The $1.3 Million Capital Gains Exemption 07:16 Moving Surplus Cash to a Holding Company 08:19 Sign #3: The Doctor Losing $280,000 Per Year 09:58 Moving Real Estate Into a Holding Company 11:13 Recovering Over $1 Million Tax-Free 12:10 Sign #4: Protecting Personal Assets from Professional Risk 13:29 Sign #5: Preparing for a Major Capital Gain 14:24 Bonus: Holding Companies for Business Partners 15:03 The One Thing Every Successful Structure Has in Common 15:23 Who Should NOT Set Up a Holding Company 16:11 Recap: The 5 Signs You Need a Holding Company
Jun 11

CRA Takes 54% Of Your RRSP When You Die (Unless You Do This)

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 families with dependent minor children or grandchildren.In this episode, we cover:• Why the "lower tax bracket in retirement" assumption often fails• How a $1M RRSP can create a tax bill of more than $500,000 at death• Why RRIF withdrawals can trigger OAS clawbacks and higher effective tax rates• The strategy that can reduce a large RRSP tax bill for qualifying families• How dependent children and grandchildren can qualify for special RRSP treatment• Why beneficiary designations and will planning matter more than most people realize• The critical deadlines that can make or break the strategyRetirement planning isn't just about growing your RRSP.It's about understanding what happens when the money eventually comes out — and what happens if it doesn't.Many families only discover these rules after it's too late to do anything about them.If you have a large RRSP, minor children or grandchildren, or aging parents with registered accounts, this is a conversation worth having now — not after a death in the family.Links:📋 For the full episode breakdown and additional tax resources, visit:🌐 theadvisorstable.com📞 Looking for Trusted Tax Advice?Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group📧 sunny@cedargroup.ca🌐 cedargroup.ca🔔 Subscribe for real-world tax, retirement, and estate planning insights.👇 Comment below: Do you think most Canadians understand what happens to their RRSP when they die?LEGAL DISCLAIMER: This video is based on a real case, but names and some details have been changed to protect client confidentiality. This content is for educational purposes only and does not constitute legal, tax, accounting, or financial advice. Always consult a qualified professional regarding your specific circumstances.#TheAdvisorsTable #RRSP #RRIF #RetirementPlanning #TaxPlanning #EstatePlanning #WealthPlanning #CanadianTax00:00 – The Hidden RRSP Tax Trap00:24 – The RRSP Tax Escape Plan00:34 – The Flawed Assumption Behind RRSPs01:03 – How Average Canadians Build $1M+ RRSPs01:50 – The Retirement Tax Problem Nobody Discusses02:10 – Forced RRIF Withdrawals and OAS Clawbacks03:43 – What Happens to Your RRSP When You Die04:20 – Deemed Disposition Explained05:05 – The Tax Law Provision Most People Miss05:59 – The Child Annuity Strategy07:31 – Real-World Results and Tax Savings07:53 – Why Younger Children Save More Tax08:52 – Eligibility Rules and Important Limits09:22 – The Five-Step Setup Process11:44 – What Happens When the Child Turns 1812:25 – Special Considerations for Grandparents13:19 – RRSP Exit Planning and Final Takeaways15:01 – Important Warnings Before You Act15:29 – Final Advice for Protecting Your Family15:50 – Share This With Someone Who Needs It
May 27

Estate Planning Explained: Will vs Trust in Canada

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 controls — and what it doesn't • Why powers of attorney matter during incapacity • How family trusts can help with tax planning, control, and asset protection • The 21-year trust rule most families never hear about Estate planning isn't just about death. It's about control, taxes, incapacity, and protecting your family when life changes unexpectedly. Many families only discover the gaps in their plan after a crisis has already occurred. If you have children, a corporation, aging parents, or significant assets, this is a conversation worth having before it becomes urgent. Links: 📋 For the full episode breakdown and additional tax resources, visit: 🌐 theadvisorstable.com 📞 Looking for Trusted Tax Advice? Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group 📧 sunny@cedargroup.ca 🌐 cedargroup.ca 🔔 Subscribe for real-world tax, estate, and wealth planning insights. 👇 Comment below: Have you ever reviewed the beneficiary designations on your accounts, insurance policies, and registered plans? LEGAL DISCLAIMER: This video is based on a real case, but names and some details have been changed to protect client confidentiality. This content is for educational purposes only and does not constitute legal, tax, accounting, or financial advice. Always consult a qualified professional regarding your specific circumstances. #TheAdvisorsTable #EstatePlanning #FamilyTrust #Wills #Probate #TaxPlanning #WealthManagement #CanadianTax 00:00 – Introduction: The Big Will Misconception 00:15 – The Three Ways Your Assets Move When You Die 00:48 – Bucket Three: The Leftovers and the Probate Process 01:06 – Case Study: Why the Kids Didn't Get the Inheritance 01:49 – The Paperwork Trap and Checking Your Beneficiaries 02:09 – What a Standard Will Does (and Where It Fails) 02:55 – The Cost of Probate and Hidden Taxes in Ontario 03:41 – Incapacity Planning: What Happens If You Get Sick? 04:50 – Essential Documents: Powers of Attorney and Directives 05:47 – What Are Dual Wills and How Do They Work? 06:47 – Demystifying the Family Trust for Regular Canadians 07:44 – Four Powerful Things a Trust Can Do That a Will Can't 11:51 – The 21-Year Rule and the Generational Playbook 13:40 – Other Types of Trusts and Overcoming Common Myths 15:33 – Summary Checklist: Who Needs a Will vs. a Family Trust?
May 20

The Airbnb Tax Nobody Knows About

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-term rentals can jeopardize principal residence treatment • The 2024 court case where CRA successfully applied HST on sale • How one homeowner could face approximately $150,000 in HST alone • Why switching back to long-term rentals may still trigger tax consequences • The hidden trap between income tax and HST rules • Why many Airbnb owners don't discover these issues until it's too late This isn't just about rental income. It's about how one decision can completely change the tax treatment of your property. And in many cases, homeowners only discover the consequences after the property has already been sold. If you own an Airbnb property — or are considering converting your home into one — this is a conversation worth having before CRA has it with you. Links: 📋 For the full episode breakdown and additional tax resources, visit: 🌐 theadvisorstable.com 📞 Looking for Trusted Tax Advice? Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group 📧 sunny@cedargroup.ca 🌐 cedargroup.ca 🔔 Subscribe for real-world tax scenarios that show what happens without planning. 👇 Comment below: Did you know Airbnb income could change the tax status of your home? LEGAL DISCLAIMER: This video is based on a real case, but names and some details have been changed to protect client confidentiality. This content is for educational purposes only and does not constitute legal, tax, accounting, or financial advice. Always consult a qualified professional regarding your specific circumstances. #TheAdvisorsTable #CRA #Airbnb #Tax #RealEstate #HST 00:00 – The Airbnb Trap Nobody Sees Coming 00:18 – Meet John: The Executive Who Thought Airbnb Was Easy Money 00:38 – Why He Chose Airbnb Instead of Selling 01:05 – The CRA "Change of Use" Rule Explained 01:13 – When Your Home Becomes a Commercial Property 01:50 – The Ottawa Airbnb Court Case CRA Won 01:57 – Breaking Down John's $150,000 HST Problem 02:47 – How $500,000 in Airbnb Income Nearly Disappeared 03:14 – The Capital Gains Tax Hit Nobody Expects 03:45 – Why Airbnb Hosts Can End Up Owing More Than They Made 04:23 – Every Exit Strategy That Still Triggers Tax 05:59 – Why You Need Both Income Tax and HST Expertise Before It's Too Late
May 14

3 Tax Cuts That Weren’t Tax Cuts

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 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 episode, we break down: • Why tax cuts often come with hidden offsets elsewhere• How the federal 1% tax cut reduced the real benefit of common tax credits• Why the promised $825 savings was actually closer to $425• How Ontario’s small business rate drop can trigger retroactive tax on historical corporate earnings• Why B.C.’s frozen tax brackets quietly increase taxes through bracket creep• How government headlines often miss the real financial impact hidden in the legislation Don’t let political marketing dictate your financial decisions. Watch now to understand what these “tax cuts” actually mean for your money. Links: Instagram: @advisorstablepodcast LinkedIn: The Advisors Table Podcast Looking for trusted tax advice? Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group. Email: sunny@cedargroup.caWebsite: cedargroup.ca Subscribe if you want practical breakdowns of real tax scenarios. Comment below — have these recent “tax cuts” actually made a difference in your finances? Timestamps: 00:00 – Intro: The Truth Behind Government Tax Cuts01:08 – Three Governments, Three Different Tax Cuts02:26 – Why Tax Cut Headlines Mislead the Public03:18 – Federal 1% Tax Cut Explained04:17 – Hidden Reduction in Tax Credits for Families05:14 – Why the Real Savings Are Much Lower Than Advertised06:33 – How Tax Experts Catch What Politicians Leave Out08:35 – Ontario’s Small Business Tax Rate Drop Breakdown10:06 – How Corporate & Personal Tax Integration Actually Works12:04 – Why Business Owners Eventually Pay More Tax Personally13:14 – The Retroactive Tax Increase Nobody Is Talking About15:00 – Example: How a $1M Corporation Gets Hit Harder16:44 – Why Governments Market Tax Cuts Without Full Disclosure17:10 – B.C.’s Sneaky Tax Increase Through Frozen Tax Brackets19:06 – How Federal, Ontario & B.C. Changes Cancel Each Other Out21:11 – Final Advice: Don’t Trust Tax Headlines Without Research

A Canadian tax podcast for business owners and their advisors. CPAs, lawyers and valuators break down corporate tax, holding companies, estate planning, business sales, CRA audits, US and cross-border tax, business valuations and corporate legal planning.

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