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.  

For employees between the ages of 65 and 70 years old, the decision of whether to continue to contribute to CPP and thereby increase their CPP benefits, or to instead opt out and retain the annual premium needs to be made.

"Despite the fact that Canada didn’t have a 'homegrown' financial crisis, economic recovery has been painful," said Timothy Lane, Deputy Governor of the Bank of Canada last month at Carleton University. That pain may remain with us for some time yet.

A Knowledge Bureau opinion poll on wealth and wealth inequality has touched a nerve.

Birth, marriage, death, separation or divorce, university entrance, sale of business, unemployment, illness, career change, self-employment, inheritances, even certain birthdays — all of these life events can have tax consequences.

Family business succession is the topic at the November Distinguished Advisor Workshop – and it’s an important one – as by the end of this decade it is estimated that over 350,000 business owners will be over the age of 55, and within ten years over half a million business owners will exit their businesses, according to a report in 2013 by CIBC World Markets.  

Very few people have any training to help them be the best Powers of Attorney of they can be. Now advisors and their clients can learn how in a half day session hosted by top lawyers in this field.