Its tax season and the CRA wants people to be aware that the scammers are out there. Scammers posing as CRA officials use aggressive phone calls and emails in an attempt to get your personal information, something the CRA would not do. These scammers often target the elderly because they are easier targets. Scammers often operate from other countries making it hard to stop them. If you are contacted by anyone claiming to be from the he CRA, always double check by contacting the agency directly.

Read more: CRA scams on the rise as tax season gets underway

Bitcoin, other forms of cryptocurrency, and even travel reward points are becoming valuable to those that invested in it. The problem is, when someone dies, it creates a situation that can be confusing as to what happens to the money. If you have any digital investments, particularly password-protected ones, you need to appoint an electronic estate trustee. Make sure that someone is available to access your password-protected accounts, especially those like Bitcoin, that can be lost to heirs if no one has the passwords.

Read more: What happens to your Bitcoin when you die? Digital assets complicating estate planning process

Trump’s ground-breaking tax overhaul may be considered good news for companies operating and doing business in the U.S., but the consequences are also being felt by Americans living abroad. For instance, U.S. business owners, currently residing in Canada, are responding by looking into relinquishing all legal ties with their home country as a result of several new taxes they may face under the plan. Lawyers, working in Canada, in the field of citizenship, are reporting an upswing of interest in revoking US citizenship among U.S. business owners living and running privately held companies in Canada.

Read more: Trump tax reform leads U.S. entrepreneurs in Canada to consider giving up American citizenship

Tax time is coming, and if you’re adding to your income with a side hustle, then remember it may count as income too. The Canada Revenue Agency (CRA) wants to know about it all. This means you need to report all income (even if you received it in cash) in the construction, food and services or retail industries. There are exceptions, like flipping a house that is considered your primary residence, but if you’re doing it with multiple locations at one time, then your capital gains may be 100 percent taxable. Income earned in a self-employed capacity (including Uber, Airbnb, Etsy professionals) won’t go on your T4 but rather needs to be reported on Form T2125 Statement of Business or Professional Activities. Remember you can claim any reasonable expenses that you made to earn that income. The best advice is to keep a proper record of your income and back up any expenses with receipts.

Read more: Here’s What You Can Claim On Your Income Tax

Sales of vacation properties in British Columbia have stalled due to fear that buyers will be hit with a proposed speculation tax. This could also cause current property owners to try to sell their properties. About 15,000 properties can be affected by this tax, meant to curb the out-of-control B.C. real estate market. The aim of the proposed tax is to make housing more affordable in Vancouver; however, experts believe it will hurt the province’s economy.

Read more: ‘Fear and uncertainty’: Out-of-province homebuyers could rush to sell if B.C. slaps speculation tax

When it comes to the 2018 budget, here are some top takeaways for small businesses in Canada. First, we now have passive investment income clarity. The new changes will result in less business income (above $50,000 a year) being eligible for the 9 percent small business tax rate. Second, the government plans to support innovation with $2.6-billion allocated for “incremental support” over five years. In addition, the government wants to help remove barriers to access to capital for women and will allocate $1.4 billion in new financing available to women-led businesses. Technology sector startups can also benefit from a $85.3-million investment in a new intellectual-property strategy to help provide better access to legal advice on IP, creation of a patent marketplace and creation of “patent collective.”

Read more: Budget 2018: top takeaways for small businesses

According to an analysis of new Canadian tax laws, approximately 900 families with an income of less than $100,000 annually will pay higher taxes because of specific income-sharing rules pertaining to small business owners. One federal watchdog claims that this will cost 900 households about $2,200 per year more in taxes. Ottawa officials insist that this initiative targets wealthy individuals who unfairly use their corporations to reduce their overall tax burden. But Jean-Denis Frechette, Parliamentary Budget Officer, claims up to 33,000 families may pay higher taxes due to this new rule, generating in the neighborhood of $400 million in federal tax revenues.

Read more: Liberals’ Tax Changes Aimed At The Rich Will Hit Some Families Earning Less Than $100K: PBO

Small-business owners, incorporated doctors, lawyers and other professionals will be relieved after the announced passive income changes in the 2018 federal budget. The government listened after receiving heavy criticism from their original plan, and they decided to take a brand-new approach. The new plan is much simpler. They’re still targeting the “tax deferral advantage” and removing some of the tax deferrals through the new passive investment income proposals. In the new plan, the government has set the “business limit” to the first $500,000 of active business income (ABI), which will be taxed at the small business deduction tax rate (SBD rate) as opposed to the higher corporate tax rate on ABI.

Read more: Why the federal budget’s passive income changes have many breathing sigh of relief

As of April 1st, those that split investment income with a family member using a prescribed rate loan will be facing an interest rate of 2 percent, in contrast to the current 1 percent rate. If you set up the loan before March 31st, you can continue to take advantage of the lower interest rate. This is particularly useful in the case of children who use the money for education, because often in these cases, there might not be any interest.

Read more: A key tax-splitting interest rate is about to double

There are nine things that you might have missed in the federal budget. With the focus of the budget on tax changes, you may have missed the Liberal’s plans for more summer jobs, cyber security spending, sensitivity to rising rates, recession-free forecast for Canada, infrastructure spending timeline increase, cash for educating Canadians on cannabis, $6 million for the Federal leaders’ debate, increasing the excise tax on cigarettes and support for local journalism.

Read more: Nine things you may have missed in the federal budget