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.  

Do you run an unincorporated small business from your home or office?

Daishowa-Marubeni International Ltd v. Her Majesty The Queen [2013] SCC 29 An important and eliciting tax decision was recently released by the Supreme Court of Canada (SCC) analyzing the difference between liabilities and embedded obligations as well as the role of tax symmetry in the Income Tax Act (the Act).

On April 29, the Minister of Finance, Jim Flaherty, introduced Bill C-60 to Parliament which proposes to implement certain provisions of the March 21, 2013 federal budget.

Part of the Bank of Canada’s Spring Review, released on May 16, included an article titled “Explaining Canada’s Regional Migration Patterns”, which provides interesting data on the effect of demographic migration on economic policies in Canada. It also provides, therefore, important information for professional advisors who wish to more strategically define growth in their practices over the long run.

Unhappy with your dealings with a CRA Auditor? The Taxpayers' Ombudsman can help when the relationship is fraught with communications issues between the taxpayer and the auditor.

If there was one insight I gained as I worked on the Federal Task Force for Financial Literacy is that more than any other single issue, challenges of financial literacy affect every Canadian and bind us together in our mutual need for financial education.