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.  

The premier of British Columbia tabled the 2014 provincial budget on February 18. The budget contained a number of tax-related changes, not all of which were directly related to income tax.

The 2013 Federal Budget announced that, beginning in 2014, the gross-up of small business dividends will be reduced from 25% to 18% and that the federal dividend tax credit will be adjusted as well. The net result is a slight increase in the taxation of other than eligible dividends at the federal level.

Great news! Students who win awards to go to school now qualify for full tax exemptions, if they qualify for the full-time education amount.

Stand up with professionalism to potential legal challenges from CRA or other family stakeholders. Register by May 15 for early bird rates.

Starting July 1, 2014, Canada and U.S. border authorities will now scan your passport when you enter and exit their country to determine how long a person has actually been out of their country of residence in a given year.

The February 11, 2014 federal budget has proposed to eliminate tax benefits of many estates and trusts; one of which is the immigration trust.