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.  

It’s my favorite time of the year: with the beauty of fall comes the opportunity to arrange your affairs within the framework of the law to pay only the correct amount of taxes in 2013—no more.

In its Backgrounder to the new Section 237.3, which defines reportable tax avoidance transactions that may be subject to the General Anti Avoidance Rules, Finance Canada has assured taxpayers that the provision, is for “administrative purposes only” and therefore it is unlikely that it will be used to incriminate a taxpayer. 

On September 20, the Canada Revenue Agency (CRA) announced that it would revoke the registered charitable status of the Islamic Society of North America (ISNA) Development Foundation.

If you are running an incorporated business you may be in financial position to supplement your RRSP with an IPP, which is a defined benefit pension plan. The IPP offers both maximum tax relief and a maximum retirement pension.

The kids are back in school and now you're back to that job you never liked anyways...

Be seen as the leader you are: be seen at the 10th annual Distinguished Advisor Conference, November 10-13. Don't miss out on this unparallelled professional development opportunity – last chance to register is September 30!