The director tax for CPA Canada posted on LinkedIn that the CRA said “interest and penalty relief applies to any T1 income tax and benefit return where there is a capital disposition to be reported for the 2024 tax return on Schedule 3. This includes for capital gains/losses included on a T3 slip that are reported on Schedule 3.” Spouses however aren’t get any extension on capital gains but are getting an extension on T1135s. 
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Wow Thank you for this! I have been digging for days for some clarification. As always, the 11th hour is when we find out.
So then I am to assume that stock options are not part of it, because they don’t show up on the S3? One could argue that they are considered capital dispositions though.
It’s too bad they chose not to actually publish anything and put it out through a third party instead. No new info in it, either, sadly. So frustrated!
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And NO pushback from the various representative organizations.
That is stunning to me.
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If those stock options were sold in 2024, then yes, it would be recognized as a disposition. I hope the CRA on their part have tweeked their systems where it shows no interest or penalties being applied. If not that, then I’ll send the interest and penalty forgiveness form. However I am not planning to file any returns with missing slips and then file an adjustment, otherwise we risk the client receiving a review letter. It mostly depends on a case by case basis.
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