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.  

Can directors and officers be held personally responsible for the actions or omissions of their companies? The answer was yes in the case of Shoppers Drug Mart Inc. v 6470360 Canada Inc.

Can the principles of Real Wealth Management™ apply to family units affected by the dark cycles of poverty, or a profound lack of trust in the family?  This is a question I was recently asked and happy to respond: yes.

Lucie Hansom earned her DFA-Tax Services Specialist designation in 2012 and in 2013 attended her first Distinguished Advisor Conference. We are pleased to have Lucie as one of our distinguished grads.

For all agreements or court orders after May 1997, child support payments are not taxable to the recipient or deductible by the payor. For income tax purposes, any support stipulated in an agreement or court order is deemed to be child support if it is not identified as spousal support.

When is an RRSP payment considered to be a pension for the purposes of completing public insurance, nursing home per-diems and other application forms?

Surprise: there is nothing magical that happens when you enter retirement to suddenly make you immune to the trials and tribulations of everyday life. The sooner you acknowledge this, the closer you are to “Mastering Your Retirement.”