Have capital gains to report? CRA says dont file tax returns just yet – National [Video]

The 2025 tax season is well underway, but the Canada Revenue Agency doesn’t want Canadians who earned capital gains last year to file their returns – just yet.

The CRA said in a news release Tuesday that it’s still working to update its systems to reflect the current inclusion rate of 50 per cent on capital gains after a last-minute reversal by the federal government, so taxpayers who earned capital gains on an asset should wait to file their T1 and T3 returns.

“The CRA recommends that those impacted by this situation wait until the updates are completed in the coming weeks before filing their income tax and benefit return,” the agency said.

CRA spokesperson Sylvie Branch told Global News the tax forms have been restored to the current rate, but changes to the systems and the corresponding certification of tax software are being finalized for capital gains reporting.

“Tax preparation software have started to be certified for …