CRA Data Breeches Put Taxpayer Information at Risk

An important deadline is coming up, around the same time that Canadians get ready to file their 2026 tax returns at the start of tax season 2027. Since 2020, more than 42,000 data breaches have occurred at the CRA. A class action lawsuit was launched in 2020 and a $8.76 million settlement was reached.  Eligible Canadians affected by these security incidents can now submit claims through the KPMG Claims Portal until February 3, 2027.  

Did you know that in Canada every individual can earn over $950 a month completely tax free?  You’ll want to pay particular attention to the “tax credits” you may be entitled to, and how to benefit from them, as you get ready to file your tax return. 

R&D Pro-Innovation Inc. v The Queen (2015 TCC 186)

Knowledge Bureau and Manulife Investments, title sponsor of the Distinguished Advisor Conference and co-sponsor of the DAC Young Advisors Award, were delighted to announce last week the inaugural winners of this prestigious award. 

Technology has made the obvious possible: In most cases, the CRA already knows what your income is, because they have a copy of your information slips from employers and financial institutions. Now, starting in 2016, for the 2015 tax filing year, CRA is introducing the “Auto-fill my return” function.

Death is never timely, yet it comes to at least one per cent of the population each year. Advisors need to be able to help their clients minimize the income tax consequences before the event occurs. 

What does it take to be a Top Gun in the financial services? To be amongst the most highly regarded in your industry, you must exhibit the characteristics and skills reserved for the elite: exceptional academic achievements, outstanding personal leadership and teamwork abilities and most of all, a stronger drive than others to be at the top of your field.