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.  

Last week in Part 1 of CPP - Now or Later, we discussed that one of the more difficult decisions for those approaching retirement is when to start receiving their CPP retirement pension.

According to an  article posted on the Canadian Revenue Agency (CRA) website, an Ottawa woman was recently sentenced to 30 days house arrest and ordered to pay a fine of $47,789 due to false statements made on her income tax return.

Before the Family Tax Cut provisions it was straightforward, a given RRSP contribution was always more beneficial if claimed by the higher-income spouse.

Have you reserved your spot at the 2015 Distinguished Advisors Conference (DAC) yet?  

Faline Linstone from Kamloops, BC recently completed the T1 Professional Tax Preparation - Basic course to upgrade her qualifications, and she met all of her objectives.

This is a good time of the year to discuss family health – with your tax advisor!