5 BULLET FRIDAYS - Tax Mechanic News, Tips & Strategies

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💼 Aimia Secures $27M Refund in CRA Tax Settlement

Strategic Win Unlocked for Former Aeroplan Parent

📅 Published: June 16, 2025
🎯 Source: Toronto Star

💰 Executive Summary: In a significant post-audit resolution, Aimia Inc. has announced a $27 million refund following a settlement with the Canada Revenue Agency (CRA) over a long-standing tax audit related to its former loyalty program subsidiary, Aeroplan Inc..

This development not only marks the end of a high-stakes dispute dating back to 2013, but also strengthens Aimia’s current fiscal positioning by injecting fresh capital for share buybacks and working capital needs.

🧾 Key Details at a Glance

🚀 Strategic Implications

• Balance Sheet Boost: Aimia will channel the refund into share repurchase programs and bolster liquidity reserves.

• Post-Aeroplan Clean-Up: The resolution draws a line under Aeroplan-era tax risk exposure.

• Investor Confidence: Proactive closure of legacy liabilities reinforces shareholder value creation.

🔍 The Bottom Line: This settlement is more than a financial reimbursement — it’s a reputational win. Aimia has not only resolved a legacy CRA audit, but is now leveraging the outcome to optimize shareholder returns and streamline capital deployment.

💎 Only the Gold: This Week’s Sharpest 1% of Ideas

🎙️ Source: My First Million – Episode 718
📌 Hosts: Sam Parr & Shaan Puri

🚀 What’s Actually Worth Your Time

A high-signal distillation of the ideas that moved the needle this week — from billion-dollar business insights to can’t-miss narratives shaking up tech and leadership.

🎯 Why You Should Care

These aren’t trends — they’re inflection points. From platform power moves to executive psychology, the sharpest minds are already adapting.

🏡 Only One Income? Think Again.

Alternative Income Sources That Can Supercharge Your Mortgage Approval

📍 Expert Insight from Genelle George, Mortgage Agent

💡 Beyond the Pay Stub: Income Streams Lenders Love

Qualifying for a mortgage isn’t just about your 9-to-5 salary. Today’s smart homebuyers are leveraging diverse income streams to boost their eligibility — and secure the homes they truly want.

Here’s what lenders are really looking for 👇

👩‍💼 Talk to Genelle — Your Mortgage, Upgraded

Navigating lender requirements can be tricky — but you don’t have to do it alone.
📞 Connect with Genelle George, a results-driven mortgage expert who knows how to present your full financial story with clarity and confidence.

🧠 Legal Spotlight: Tax Court Clarifies CRA Mailing Oversights in Disability Tax Credit Case

🗓️ Date: June 16, 2025
📌 Source: Tax Court of Canada
🧾 Case: Zaugg v. His Majesty the King, 2025 TCC 82
👨‍⚖️ Presiding Justice: The Honourable Ted Cook

🚨 Summary at a Glance

In a pivotal ruling, the Tax Court of Canada reaffirmed the importance of procedural fairness in CRA communications, particularly for vulnerable taxpayers.

Mr. Thomas C. Zaugg, a taxpayer with a history of mental illness, filed for the Disability Tax Credit (DTC) but was denied due to missed communications with the CRA. The CRA had sent the decision to an outdated address despite having a more current one on file — a misstep that led to Mr. Zaugg not receiving critical notices until years later.

Despite denying Mr. Zaugg’s application for an extension of time, the Court deemed his notice of appeal valid, striking only claims related to CERB/CESB due to jurisdictional limits.

🧩 Key Takeaways

✨ Why This Matters

This decision underscores a key judicial stance: taxpayers cannot be penalized for CRA’s administrative lapses, especially when vulnerable circumstances like mental illness are involved.

🎯 Strategic Insight

Professionals supporting clients with CRA disputes should:

• Ensure mailing addresses are up-to-date across all CRA systems

• Track CRA correspondence via MyAccount regularly

• Prepare to leverage legal precedents when communication mishandling affects procedural rights

Stay informed, stay compliant — and when in doubt, challenge the process.

— Adapted from - Tax Court of Canada Judgments 2025 TCC 82 🧾

Surprise Summer Pay Boost for Canadians

✂️ A Mid-Year Tax Cut—No Action Required

Starting July 1, 2025, the CRA is dropping the lowest federal tax rate from 15% to 14% on your first $57,375 of income.

📌 No forms. No applications. Just extra money in your paycheque.

@taxmechanic

CRA’s Paying You? 👀 Real tax $$ is hitting your summer paycheques—no forms, no hassle. Watch till the end to find out why and how much you... See more

💵 How Much You’ll Save

CRA is already updating payroll systems—your summer paycheques will reflect it.

🛠️ Tax Mechanic Has Your Back

At Tax Mechanic, we help Canadians maximize earnings and push back against CRA overreach. Want more smart strategies?

🌟 Book a call today if you need help with your taxes or want trusted advice that gets results.

💼 Email: [email protected]
🛠️ Let’s make your next move your smartest one.