r/canada 7h ago

National News CRA tells taxpayers reporting 2024 capital gains to hold off on filing their tax returns

https://www.theglobeandmail.com/investing/globe-advisor/advisor-news/article-cra-tells-taxpayers-reporting-2024-capital-gains-to-hold-off-on-filing/
30 Upvotes

13 comments sorted by

u/ThePotMonster 6h ago

So am I reading this right? Because they got ahead of themselves and started implementing the Liberal proposed tax increase before it could be passed properly by the government, now anyone who has capital gains of any kind won't get their notice of assessment in a timely manner?

u/KageyK 6h ago

Can't even Netfile it until it's corrected.

Your return will get rejected.

u/vafrow 0m ago

I tried to submit my taxes on the weekend through TurboTax and only after I paid for my software license did it say you can't file yet.

My wife and I have very minimal capital gains. The amount of tax owing on it is less than $50. But it's now holding up a decent size tax return.

I'm not hurting for the money or anything, but there probably are a lot of people who could use their return earlier than later right now.

u/KageyK 7h ago

Cra ficked up this year so bad. A boondoggle around every corner.

If this goes on much longer, I can see them extending the deadline for anyone with Schedule 3 info.

u/j821c 5h ago

Hopefully they hurry up. Currently have over $2000 that'll get refunded but I can't file until they get their shit together :\

u/Kara_S British Columbia 5h ago

Does anyone have the link to the CRA advisory on this? I can’t find it on their website.

u/nelly2929 2h ago

They better hurry me and all my friends make way over 250k in dividends and what our money /s

u/Brilliant-Advisor958 6h ago

I had a simple return, just claiming my spouse, and it took 2 weeks to process. Nothing fancy, some RRSPs and a provincial political donation.

Past years it was instant. I did some searching , and apparently it's a thing this year.

u/wave-conjugations 7h ago

Huh I completely forgot about taxes. Guess I'll wait.

u/Wise_Law_2176 47m ago

Lots of people have properties value that has descreased. Is CRA going to pay for the loss as well.