ATS Business Solutions

Where are your tax slips? Why so much information is missing from CRA accounts this year

E-file starts Monday February 25, 2025.
Open for business.

TAX Important Dates!

RRSP contributions
The deadline for RRSP contributions for the 2024 tax year is Monday, March 3, 2025.

Personal Income Tax Return Due Date
Income Tax Act s. 150(1), 248(1)
Due Date for 2024 Tax Returns & Payments is Wednesday, April 30, 2025

February 28, 2025 - last date to make charitable donations for the 2024 tax year.

the federal tax brackets break down:

15% on taxable income of $55,867 or less
20.5% on income over $55,867 up to $111,733
26% on income over $111,733 up to $173,205
29% on income over $173,205 up to $246,752
33% on income over $246,752
The basic personal amount (BPA), which is the income you can earn tax-free, has also been adjusted for 2024:

$15,705 if you earn $173,205 or less
$14,156 if you earn $246,752 or more
If your income falls in between, your BPA will be adjusted gradually.

** this information came from CRA

This was forwarded by CRA.

Security practices

Purpose

The Canada Revenue Agency (CRA) has noticed a growing threat of financial fraud and digital scams. We all play important roles in protecting information and mitigating risks by staying up-to-date and vigilant on security best practices.

This message includes simple steps that you can take to confirm the identity of your client, protect your CRA accounts and your network from cyber threats, and ways to stay alert on the latest scams and fraud trends. These tips are not meant to replace any security procedures present in your organization and should only be considered as best practices that may complement your already existing protocols.



Protect your information and CRA accounts

There are many things you can do to help protect your information and online accounts from potential identity theft or fraud.

Monitor your accounts regularly: it helps spot and address suspicious activity
Change your user IDs and passwords often: use unique and strong passwords
Keep your contact information up-to-date: if the CRA notices suspicious activity on your account, they may need to contact you
Maintain your client information: remove old and outdated client information to prevent any unauthorized use in the future
Manage representatives associated to a Business Number GroupID: it prevents unauthorized access to client information
Sign out after each session: it mitigates the risk of unauthorized access

Sharing insights about fraud trends and schemes with the CRA can help us identify and address fraudulent activities promptly. A collective effort will strengthen our defences against fraud and foster a more secure environment.



Secure your networks

Your networks are the master key to your most important devices and data. Implementing, promoting, and monitoring good cyber hygiene practices are critical to safeguarding your security posture. Consider the following:

Stay alert

Being aware of the latest scams and techniques that threat actors are using to commit fraud will help protect you and your clients against information theft and financial loss. The CRA’s Scams and fraud web page and social media platforms share updates and information about scams and fraudulent activities. Below are some of the latest scams.

CRA payment scam by text message: A text message of an image with the Government of Canada logo claiming to be from the CRA offering a fraudulent Interac® e-transfer deposit. A separate text message containing a link to a realistic impersonation of a sign-in portal for financial institutions is sent.
Messages containing personal information: A message claiming to be from the CRA, requesting a payment or containing a link. It includes personal information such as your name, date of birth, or Social Insurance Number.
GST/HST tax refund/credit scam: Claiming to be the CRA, the threat actor sends you a text message or an email about giving you a GST/HST tax refund or credit. You are asked to provide personal information to proceed.
Scam to access CRA accounts: The threat actor sends a text message claiming to be the CRA to gain access to your CRA accounts. Message will say there is an error with your account, which will need to be updated. You are asked to text back “HELP”, then may be asked to provide personal information.
Identity theft and fraudulent tax returns: Threat actors gather personal information (such as user ID and passwords) and file fake tax returns in your name.


Additional resources

For more security practices, refer to the following resources:



Canada Revenue Agency

Security and privacy of your information with the CRA
Canadian Anti-Fraud Centre

Protect yourself from scams and fraud
Canadian Centre for Cyber Security

Information for small and medium businesses
Chartered Professional Accountants of Canada

Cyber security resources
Financial Transactions and Reports Analysis Centre of Canada

Methods to verify the identity of persons and entities
When to verify the identity of persons and entities – Accountants