Practitioners have told us that the Canada Revenue Agency (CRA) has been incorrectly assessing 2024 T1 returns where the Lifetime Capital Gains Exemption (LCGE) was claimed. We learned from the CRA that two errors had been corrected and that reassessments were scheduled to begin on June 10.
However, practitioners have since reported that the CRA has not yet reassessed any of their affected clients.
Today, the CRA informed us that there has been a delay, and reassessments are now expected to begin shortly:
"There has been a delay in timelines previously communicated, but we expect to begin reassessing impacted returns shortly. This remains a high priority for the Agency."
Posted to LinkedIn on July 29, 2025
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Ryan Minor
Chartered Professional Accountants of Canada
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