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.Disability Awareness: Tapping Into the CPP Disability Benefits
Last week we launched our five-part Disability Awareness series discussing tax relief for those who have become disabled and their caregivers. In this second part, we talk about income supports that are available. These articles are excerpted from Jacks on Tax, by Evelyn Jacks.
Evelyn Jacks: Part 2 – Deducting Interest in Special Circumstances
According to Statistics Canada there were 2.3 million businesses in Canada as of June 2009, with 57% of all business establishments located in Ontario and Quebec.
CRA Gives Guidance on GAAR Rulings
Since 1988, 1,125 files have been referred to the GAAR Committee, according to recent statistics from CRA; CRA presented this and other statistics as it went through the GAAR process at the CRA & Professionals Breakfast Seminar in Toronto on June 6.
United States Senate Approves New Online Tax Scheme
South of the border, our American friends have proposed new legislation aimed at imposing sales tax on customers shopping at large online retail websites.
Will Having a TFSA Reduce the Size of the Guaranteed Income Supplement?
With very minor exceptions, the definition of “income” used to determine the amount of the Guaranteed Income Supplement is the same as “Net Income” under the Income Tax Act.
Understanding Synthetic Dispositions – Total Return Swap
We continue our Synthetic Dispositions series this week with a look at a total return swap.
