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ARTICLE · 21 MARCH 2025

CRA Information Collection: New Rules Expected In 2025: Consequences Could Be Significant

Miller Thomson
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On April 16, 2024, the federal government presented its 2024 budget announcing several tax changes, including an increase in the capital gains inclusion rate—a measure that has since been cancelled.

CanadaTax
Marie-Hélène Tremblay
Marie-Hélène Tremblay
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On April 16, 2024, the federal government presented its 2024 budget announcing several tax changes, including an increase in the capital gains inclusion rate—a measure that has since been cancelled. But another tax reform, which garnered less attention, could have even greater consequences: the new rules governing the collection of information by the Canada Revenue Agency (CRA).

Changes that fly under the radar

Tax experts agree that these new rules have slipped under the radar of many taxpayers. Yet they're likely to significantly transform the CRA's tax auditing and information gathering practices. These changes need to be better understood, as their impact could be much broader than a capital gains inclusion increase.

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