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.High-Risk CRA Audits: Five Areas Under the Microscope
Small business owners and high-net-worth investors are being audited differently as CRA focuses its attention on several higher-risk areas. COVID-19 subsidies and benefits, cryptocurrency, real estate transactions, cash-intensive businesses, and the gig economy and small business are among the key targets. Ruth Horst will examine these five areas at the September 23 CE Savvy Summit: Audit Defence Management, including what’s involved and what tax and financial advisors should know when helping clients defend their filings.
Knowledge Bureau Distinguished Designates Gather for Focus Group
Knowledge Bureau hosted its second quarterly gathering of its designates on August 12 in Toronto to continue the evolution of its national networking Society. The new mandate, name and logo of the Society of Distinguished Wealth Professionals™ was received with great enthusiasm. It was a vibrant, thoughtful meeting on the future of financial services industry that includes the transformational power of Agentic AI, with special guest thought leader, Tony Mahibir, RWM™, FDFS™ and CEO of CANFIN.
Make New Connections at Acuity: Rapid Fire PD with Home Trust
Some of the most valuable conversations at the Acuity Conference happen when distinguished professionals have an opportunity to connect, exchange ideas and learn from one another. On November 23, Gold Sponsor Home Trust and Christina Fazio, MBA, FDFS™, Director, Broker Deposits, will bring that experience to the forefront with a special networking brunch designed to get delegates talking. This is one of 20 incredibly informative professional development sessions at the Acuity Conference for Distinguished Advisors (DAC) taking place November 22-24 in beautiful Victoria, B.C.
The Canada Child Benefit Increase and Audit Risk
Families receiving the Canada Child Benefit (CCB) may have noticed an increase in their recent payments. Indexing takes place each July 1. Beginning in July of 2026, the CCB will provide families up to $8,157 per child under the age of 6 and up to $6,883 per child aged 6 to 17. There is audit risk that comes with that, however.
Summer Tax Wisdom: New Hard Stop on Retroactive Tax Filings
How many Canadians are behind in filing their tax returns? It turns out there are millions – statistically just under 3 million. Despite the audit threat and significant penalties for those who owe, most of those millions of delinquent tax filers miss out on thousands of dollars owed to them. Now, many will miss out permanently when an important deadline passes on October 30, 2026. Here’s what’s happening:
New Senior Tax Specialist Diploma Launches with Five Advanced Tax Updates
Knowledge Bureau has launched a new Senior Tax Specialist Diploma for tax, accounting and financial services professionals, beginning with the September 23 CE Savvy Summit on CRA Audit Defence Management. The 12-month program brings together five advanced updates in personal, corporate, cross-border and trust taxation and business, with a focus on helping professionals support clients and lead their growing teams with greater expertise.
