On October 3, 2016, the Government announced a change to Canada Revenue Agency’s administrative requirements relating to the sale or deemed disposition of a principal residence. Historically, CRA did not require the disposition or deemed disposition of a principal residence to be reported if the property qualified as principal residence for all years of ownership and no tax was payable. However, as a result of this very recent change, commencing with the 2016 calendar year, the sale of a principal residence must be reported whether or not any tax may be payable.
All Government of Canada websites, including Canada Revenue Agency’s, are being migrated to a new website (www.Canada.ca). The merging is intended to be completed by the end of 2016. Current registration and log-in information for your CRA account is expected to be valid in the new website.
The merger is part of a previous government initiative to consolidate individual department and agency websites and make it easier for the public to find and access government information and services on multiple platforms (computers, tablets, smart phones, etc.).