Despite the current prorogation, the finance department says the CRA will issue taxpayer forms in accordance with the proposed capital gains rules by January 31. The department says the CRA will stop administering the policy if Parliament resumes and the government signals it will no longer proceed with the proposed changes.

When Parliament was prorogued, all bills and motions that had not yet received royal assent were essentially killed. So why is the Canada Revenue Agency charging higher capital gains taxes that were never formally adopted by Parliament?

The Canada Revenue Agency expects Canadians to adhere to a proposed capital gains tax increase – despite the fact the measure may never be passed into law.

Whether Parliament is prorogued or dissolved, the agency generally continues to administer proposed legislation

Capital gains is the profit you make from selling a capital asset (real eastate, vehicle, collectibles etc) Learn about taxes occured and capital gains.