Downsizing Your CRA Tax Files?

Happy New Year! If one of your resolutions for 2026 is to downsize, or at least sort through all that stuff you don’t need anymore, you may inevitably run across those tax files you’ve been keeping for decades. Just how long do you have to keep them? Do you need permission to destroy them? From whom? Read on to learn more. 

Rather than tinkering with capital gains inclusion rates or changing which assets qualify for capital gains treatment, should governments reconsider taxing capital gains? Some studies suggest that capital gains are fictitious and any taxes thereon result in an economic burden.  Do you agree?

Tax filing time is confusing for most Canadians, but for newcomers it can be completely bewildering.  If you have the opportunity to help with this most important financial document of the year for many families, including new immigrants, consider broaching the following six concepts as a conversation-starter in your role as financial educator.

Canadians are living longer, and while health may be one of the issues matured Canadians focus on in their golden years, carrying debt into retirement and the possibility of filing for bankruptcy is becoming more of a concern.

Knowledge Bureau will be on the ground in Ottawa next week, delivering all the information you need after Finance Minister Bill Morneau unveils the Liberals’ first federal budget since taking office last fall.

Now that tax season is in full swing, Knowledge Bureau would like to remind you of some key dates to mark in your calendar: Regional DAW Workshops - May 24 to 31, Summer Studies Begin June 15, DAC  Nov 6 -9.

"I am grateful for the blessings of wealth, but it hasn't changed who I am. My feet are still on the ground. I'm just wearing better shoes.” - Oprah Winfrey