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.  

Canadians can start to apply for the Canada Emergency Response Benefit (CERB) this week and there are some new details to be aware of.  Here’s how it will work:

The distance from Friday to Wednesday can seem like an eternity when hope hangs on the promise of a 75% wage subsidy. The details were finally announced on April 1, which we are sharing today. But the euphoric moment is somewhat muted as the fine print includes uncertainty, complexity and the reality that money will not flow for six weeks. This may be devastating for businesses trying to avoid bankruptcy at this critical time.

As the coronavirus Pandemic spreads in Canada, employers who face reduced revenues can try to avoid layoffs with the 75% Wage Subsidy Program. A second line of defense is a new EI Work-Sharing (WS) Program. Previously available only in the forestry, steel and aluminum business, there is now no restriction to a particular industry.  Here’s a checklist of information for bookkeepers, tax and financial advisors to share with small business clients. 

There’s more good news for small business owners affected by the pandemic. On March 27, the federal government announced that it’s deferring payments of all GST/HST remittances until June 30, 2020.  Here are the details: 

Canadians can apply for the Canada Emergency Response Benefit (CERB) starting on April 6, but the government is hoping to flatten the curve of responses by having affected Canadians in a specific order, by birth month. Here’s how it will work:

The All New Virtual CE Summits will be introduced to you on April 22 and May 13.  We are so pleased to combine the power of a robust online learning course with an interactive Zoom Meeting platform with your instructors on May 13 to discuss the details of the COVID-19 Emergency Response provisions.  Please mark your calendar now.