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.  

This excerpt from Evelyn Jacks’ Jacks on Tax outlines the different categories of residency and provides an answer.

If you own a family business, you will undoubtedly experience several people-related crises that may plague the business during its life cycle. Family conflict, divorce, illness, and premature death all represent potential threats. Excerpted from Master Your Investment in the Family Business are some tips and traps you should avoid in crisis situations.

Are your clients making unnecessary quarterly tax instalment remittances on self-employment, investments, pensions, or other sums from which tax is not withheld at source?

Here’s the tax secret: Income layering of all your income sources in retirement can help you get a better after-tax result, and help you preserve your capital for the future, too.

The Money Matters: Financial Lessons for Life 2014 calendars are full of timely and relevant money matter tips and make wonderful client gifts. Ensure your calendars with a pre-order – the 2013 calendar sold out! English and French calendars available. Order by August 15.

It matters that you have an advisor at your side. That’s the message we want our clients to receive . . . the right advice is absolutely worth the fee.