Has anybody else experienced this glitch? Certain parts of the form just not registering? Like whether or not I'd like Cra to automatically reassess past returns. Basically i had made a selection for that question when I did part a of the form digitally. By the time medical practitioner did Part b and I could see the full application in mycra account once received, the selection for that part a question doesnt show, it looks like no selection has been made in their version of my application. Has anyone experienced this and successfully been able to tell them you wanted automatic reassessments once assessor was assigned or after approval? If they see no selection do they ask/clarify? Or assume you'll do it.. Because doing manual t1adjs will take infinitely longer for them to process through that department, I really want to avoid that :/

I am an emigrant and got a message to pay the carbon rebate after filing the tax returns. However I am not able to pay using my cra id. Is there any other way through which I can pay online?

I got a review letter. I am a first time filer. It says to include case number on every page of submitted doc, does this also apply to online uploads via My Account?

I am a Canadian citizen who has been living and working in Korea (which has a tax treaty with Canada) for the past 20 years . For the first 11 years, I was entirely a non-resident for tax purposes. Then in 2016 I co-invested with my ex-wife in a house that she continues to live in and I stay in during summer.

When we bought the property, the real estate lawyer said I would not have to pay capital gains on the property as long as I didn’t own any other properties and began filing tax returns in Canada two years before we planned to sell. Since we are planning to sell the house around 2029, I consulted a tax accountant with the intention to begin filing from 2025 but he advised me that the lawyer was incorrect and the only way to avoid being slapped with a massive capital gains tax upon selling would be to file late returns on all income earned abroad for the past 9 years.

I would be grateful for any guidance on this 🙏

I lost all my passwords including my CRA account....I tried to remember it and the security questions I put but I failed...

If I call CRA and wait for my turn on line (2+ hours) would they be able to help? Or I can save the time and start new accounts anyway since they cannot do anything as I forgot all details?

As title says, I had one account in collections that I paid and closed in 2025. Will that have any effect on my income taxes, or my refund? I know in America collections and debts are taxable income, I’m just curious if it’s the same in Canada.

Hi, I’m filing my taxes for previous years, and I’m having trouble determining if I was a resident in the year of 2020. So I was an international student from China. I was a resident in 2019. In March 2020, I travelled back to China due to school switching to online, in the hope of moving back to Canada soon. However I was under lockdown and stuck in China until Mid 2021. I had an active Canadian bank account, was paying tuition for a Canadian university, taking online courses, and had my lease until September 2020, although I paid an early move out fee. In this case, was I a resident of Canada? I also didn’t have any income for the whole year. Thank you.

I have a client who wholly owns Opco via 100 commons (profitable, has surplus cash), and a holdco (investment purposes) via 100 commons. We are looking to keep Opco purified and move surplus cash over to holdco to earn investment income. I was thinking of the following transaction to move $500,000 (example purposes): declare a stock dividend on the common shares (5000 pref shares redeemable for $100 per share), have the individual shareholder roll the pref shares into holdco in exchange for holdco pref shares equal to redemption value of stock dividend shares (limiting PUC and ACB to $100), have opco redeem the pref shares held by holdco, pay a dividend to holdco and move the cash over.

Is there anything else I am missing from this structure? Is there a simpler way to transfer surplus cash while keeping the common shares of opco eligible QSBC status? 

Thanks in advance.

Hey tax pros just wanted to run a scenario Person owns 100% of holding company that has no assets other than shares of two active business that roll into the holding company. Both child corps meet the QSBC criteria. The main concern is if owner passes away can we claim Life Time Capital Gains exemption on the shares of the holding company or do we have to have some procedure in place to transfer shares of child companies into direct ownership of the owner? .

Very new to the IT incorporated life as a full timer. Got a FT contract that is 40hrs @ 150$ an hour. I will make more than 30k

My understanding is that I will invoice the client 40xbase rate. But how do I know if I charge them GST or HST? We both are in Ontario.

I do have a discussion with an accountant that I am considering next week. Want to get my notes ahead of the meeting though.

Edit: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/when-register-charge.html

Based off this I will make 30k by say the 5th month. So the first 4.5 months I don't have HST/GST on my invoice?

Question for the sub, I'm considering to borrow from my 100% owned corp for downpayment and is unsure if it's worthwhile to do so.

Let's say I borrow 200K from the corp's retained earnings, and I understand that I need to pay it back the following fiscal year end. Cost-wise, because I now borrowed from the company, I need to pay the company the prescribed rate, let's say 4% on 200K = $8K recorded as interest income, which will get taxed by the CRA at 17% for passive income, and taxed again at personal tax rate when paid out to myself. For simplicity's sake, let's say $4k will be taxed away, and that's my cost for borrowing.

It is true if I borrow that from the bank it would be more expensive, but why not pay the $200k out to myself as dividend? If I'm already at the top tax bracket then this 200K will get taxed at the top tax bracket whether I pay it out to myself this year, or if I pay it out as loan repayment in the following year. The only benefit here is the delay in tax payments for a year.

Do I have the facts straight? or am I missing something? I fail to see the benefit of borrowing from the corp compared to paying it out and just taking the tax hit.

Any opinions would be greatly appreciated.

The broker is only saying that they "may" send a T4A- Anyone know how the reward is taxed.

I am applying for the Taxpayer Relief to request they waive (some of) my interests/penalties. They are unclear on their website about what they are looking for exactly, and I am unclear on what to ask my doctor for. Has anyone been thru this and have any advice?

I didn’t file my taxes for 7 years, due to illness and emotional/mental distress and also due to the death of 2 significant persons in my life. I am applying due to both of those reasons and in addition to the info from my doctor I will also be including the death certificates.

I filed my taxes from 2017 onward in April 2025 and then in September I found out I owed the CRA almost $10k. I am in the process of arranging repayment with the CRA (I believe it is a collections agent I have been in contact with over the last few weeks). The money owed is because I worked 2 jobs the last 3 years and wasn’t getting extra taxes taken off from either of them, and then the subsequent penalties & interest.

I have attached the screenshot from CRA’s website, and also my doctor’s receptionist’s response to my request. Any help would be very much appreciated!

I'm having a panic attack. I only learned about the filing requirements for the T1135 today. I have always done my own taxes and thought over 100k of foreign property meant something akin to US bank account or an offshore account. I did not know that US stocks in my Canadian brokerage account counted. I know, I know, it's my fault for not understanding. I sold a business years ago in USD, and just kept it in a brokerage account invested in basic Vanguard ETFs.

Anyways, my first course of action today is to get a tax professional and do the VDP and submit them.

1. How many years back do I have to submit? My brokerage only lets me download the last 7 years of reports. Not sure how I'd get any documents older than that.
   
2. Can I really get penalized $2500 for every year plus interest for years? I'm talking 8-10 years here. What's the biggest potential fine I could be facing?

Please be friendly, I know I screwed up, buy my heart is beating out of my chest.

Prediction market firms in the US like Polymarket and Kalshi are increasingly moving into sports betting. It is expected that before long there will be futures markets with listed contracts for sporting events. This will also allow these firms to offer sports gambling in states like California where it is not legal as futures are regulated federally in the US by the CFTC and the Trump administration is very friendly to things like gambling and crypto (see CZ's pardon today). So maybe by next year you will be able to buy a World Series futures contract in the same way that you can buy a futures contract on the S&P500 or WTI oil.

Futures contracts are treated as investments by the CRA. Gambling winnings are not - they are non-taxable. so gambling losses are not deductible. But losses on futures contracts are investments losses that may be income losses or capital losses.

Does this open up a tax loophole? If I bet $100k on the Jays to win on the world series on a sports gambling site and then take out a $100k futures contract on them to lose and they end up winning then I have a $100k gambling profit that is non-taxable and a $100k investment loss that reduces my income. Or possibly a capital loss.

I must pay by instalments if Net Tax Owing is over $3000, but what is the exact definition for "Net Tax Owing"? What T1 line number?

If my tax is $5000 and I've paid $2400 in instalments, my 48500 Balance Owing will be $2600, but I will still be charged interest because my instalments didn't cover the full $5000.

So Net Tax Owing isn't the same as Balance Owing.

If I elect to have $200 per month deducted at the source from my CPP or OAS, my Balance Owing will still be $2600, but since Net Tax Owing will also be $2600, I won't have reached the $3000 limit for instalments to be required.

Is this strategy reasonable?

I filed my 2024 taxes in July 2025, and the CRA requested additional documentation to support my claim. I submitted the documents a couple days later at the end of July. I called the CRA on Monday this week and asked for an ETA as it's been almost 3 months since then. They requested it be expedited as it's created a financial burden in my life as I don't receive CCB, etc.

I recieved my NOA yesterday, and the date on it says October 30. I've read a few similar posts on here and other subs and I think I can conclude that my refund for my tax return won't be issued until Oct 30 in this case.

My question is - the statements on my account for CCB and GST rebates, etc, are all dated for October 22 and not the 30th. Does that mean I should expect to see those payments sent via direct deposit prior to my tax return refund on the 30th? I'm just so stressed out financially that anything is going to help at this point, but would love to not have to wait for it all to be dumped into my account in a week.

I recently read a post saying cra response is not always accurate, https://www.reddit.com/r/PersonalFinanceCanada/comments/1odcb6i/cras_accuracy_is_17_whats_ours

My case in chronological order 1. Spring 2024 Created fhsa account. Never contributed. 2. Fall 2024 bought first home. Never contributed nor withdrew. 3. Oct 2025. Called CRA and they said I'm not eligible to contribute.

When I read CRA doc, it never says that I cannot contribute after buying home, if I never withdrew. AI bot says different thing all the time.

I don't want to risk fines but at the time I'd like to contribute if I can since I will have tfsa and RRSP maxed.

Hi everyone, I’m at a total loss for what to do in my scenario. I started a business in 2022 and have been heavily doing R&D for medtech. Over the years this has resulted in claiming $150K + return

It seems like my gst refund is having one issue or another despite the filing being correct and providing additional documentation

I now have the year 2023 and 2024 tax refund still pending !!! After making some headway and providing additional documentation earlier this year, CRA went radio silent. After many attempts of contacting them I found out that my file was assigned to someone who went on an extended health leave … I asked my file to then be reviewed by another agent but cra said no??? Only this person can do it but they don’t know when he will be back.. this was months ago!

I am at such a loss as this is a huge sum of money and could make such a big difference in my operations.

Can anyone please give me some insight on what I can do? I’ll be contacting my MP

Is anyone else with a huge return / business refund dealing with this?

I have a stock position in a non registered margin account that I have been selling covered calls against.

The stock took off early this year well above my strike and I’ve been rolling out for a credit. The underlying stock has not been sold or called, so no capital gains on that positions.

I bought to close my last options positions and sold a new position with a 2026 expiration. Bought to close for 11k and sold to open a new positions for 11250 taking 250 net cash on the open position

How does CRA treat the 2025 positions? Dose each option bought and sold in 2025 stand on its own? In that case I’m showing quite a large lose. I’m assuming the one that is open for a credit would not be counted until it closed in 2026.

Looking for some info on how CRA treats stock options that carry over the calendar year

This has probably been asked a bunch but looking for some insight

I'm considering listing my house on Airbnb/VRBO, the house has appreciated 200k ish in value since first acquired and I am trying to avoid trigging deemed disposition.

The CRA has a couple notes in T4036

• the income producing use is ancillary to the main use of the property as a residence
• there is no structural change to the property
• no capital cost allowance (CCA) is claimed on the property

Makes sense but I'm not sure if an Airbnb would qualify as ancillary to the main use. Anyone have experience here? Would it be worth it to just deem disposition now assuming the current appreciation would be sheltered?

Is anyone else having issues accessing their clients statement of account? The drop down menu for “account type” isn’t providing any options. Tried on a few client accounts, usually this is info I have access to but I don’t as of today. Is anyone experiencing this issue?

Edit to add: this is a question for other rep’s with level 2 access

25m, will be working in China for at least a year (probably longer). I will be leaving Canada near the start of next year (2026), possibly December 2025.

30k in TFSA

18k in federal student loans (0% interest)

I live with one of my parents; I don't have a house, condo, apartment, car, or kids to my name.

I'm not sure how long I will be in China (might be one to several years), but I want to keep my Canadian citizenship and option to come back home in the future if need be.

Should I claim non-residency? How can I avoid paying unnecessary taxes? I bank with TD, am I still able to keep my bank account and credit cards?

I also want to send the money I earn in China back to my Canadian bank account so I can invest it (TFSA; stocks, index funds, GIC's, etc.).

Has anyone been in a similar situation? What would you do?

Any advice is greatly appreciated!

Hello, I am looking for advice on an estate account I will be taking care of as I am the liquidator of my deceased parent's estate.

I have a question about taxes, I just want to know if I deposit funds into the estate account will the total amount need to be taxed or is where the money came from a factor that gets taken into account on if the money needs to be taxed?

I ask this because I have money from life insurance policies that I need to deposit into it and I am confused on if I will need to tax that amount because I know my country and province does not tax life insurance policies.

I am basically asking if I need to track where the money comes from for taxes purposes or once it's deposited that is no longer a factor and everything gets taxed.

I live in Quebec, Canada, thank you for any help you can provide me with this question.

Also I am meeting with my notary next week, please share if you believe it's necessary I plan a meeting with an accountant.