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.  

In Coveley v. The Queen the Tax Court of Canada (TCC) had to decide whether certain allowable business investment losses (ABILs) claimed in the 2005 and 2006 taxation years by a couple who owned a business were correct. 

I was so glad to hear from Russ, in response to last week’s blog. He shared that he had read my book; realized he missed claiming moving expenses and then adjusted his prior filed returns. To his delight, he received a $6600 refund – found money!  Good for you Russ!

Andre Yong Tit Kow successfully achieved his DFA-Tax Services Specialist designation from Knowledge Bureau in 2013. We are pleased to have Andre as one of our distinguished grads.

No income? File a tax return anyway. You’ll need to do that to receive income supplements from the government, often paid monthly or quarterly, including federal tax credits like the Canada Child Tax Benefit, GST/HST credit or the Universal Child Care Benefit.

How do I calculate my ideal RRSP contribution?

Start your educational path towards designation today and earn your MFA™ or Distinguished Financial Advisor™ designation by the end of 2014!