Verifying capital dividend account balances gets easier

The CRA is creating an online form to make it easier for you to confirm CDA balances. The form is delayed, but the CRA asked us to assure our members that the form is still in the works.

Earlier this year, Chartered Professional Accountants of Canada (CPA Canada) brought to the attention of our members that the Canada Revenue Agency (CRA) is working to make it easier to verify capital dividend account (CDA) balances.

Capital gains and losses information is now available on the CRA’s secure online portal. Taxpayers and their representatives can now retrieve this information via My Business Account.

The CRA also plans to make a CDA balance request form available on its website, and had targeted April 2015 for the form’s release.

The CRA contacted us to confirm its commitment to publish the form. A technical oversight has delayed its availability, however. Addressing the problem might take some time, and the CRA promises to keep us updated on key developments, including any major setbacks they may encounter.