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.  

Two new measures were introduced in the February 27, 2018 budget that curtail the advantages of investing inside a private corporation, starting in 2019. All was met with a collective sigh of relief, considering the flawed fall proposals. However, there is still a twist - no grandfathering provisions for private corporations under two new proposals:

Do you have clients looking to buy their first home? Ensure they’re familiar with the ins and outs of the Home Buyers Plan to help them fund their purchase.

Over $1Million will have been raised this week at the 14th Annual Winn$tock Battle of the Bands in support of children’s charities in Winnipeg.

Knowledge Bureau has unveiled the comprehensive agenda for the Spring 2018 CE Summit workshops. There are three key reasons to make the time for fast-paced, interactive national event.

Knowledge Bureau’s Evelyn Jacks’ new book  Essential Tax Facts How to Make the Right Tax Moves and Be Audit-Proof, Too has incorporated the latest Federal Budget to help professional advisors and their clients in their relationship with CRA.  Featuring Audit-Buster Checklist and, this book can help you position yourself for greater success, post-tax filing season.

The theme of the 2018 Federal Budget announced February 27 is focused on Equality and Growth, and carries forward the 2017 theme of “a Strong Middle Class”. There are five key areas this budget addresses: