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.Evelyn Jacks: Professional Back to School Tax Savings Tips – Part 2
Last week I shared some tax tips that will help you as you plan your children's activity agendas for the year. This week I provide some tips on claiming credits for others expenses such as child care, medical, and transportation as well as how to recover refunds or missed claims.
Loan Sharks: Criminal Interest Rate Provisions Fail to Curtail Practice
Back in 1980, unanimously, and without much debate at all, Parliament enacted Section 347 of the Criminal Code with the objective of combating “loan sharks”.
Taxes on the Final Return: Avoid the Greatest Eroder of Wealth
Planning ahead can ensure more of your financial legacy remains intact once you’ve continued on with your journey.
When Can I Avoid Capital Gains on Transfers of Securities to Charity?
You can use a 0% capital gains inclusion rate, rather than the normal 50% rate when transfer qualified securities to your favorite charity, including a private foundation.
Buying a Business: Basic Tax Considerations
So, you have identified a business that you would like to acquire, but you are not sure which method you should use to do so, and how to best structure the deal to best avoid the tax man.
RRSP Over-Contributions and Excess Contributions
To cushion errors in contributions due to fluctuating RRSP room, an over-contribution limit of $2,000 is allowed without penalty, provided you are at least 18 in the preceding taxation year.
