The filing deadline for income taxes is looming, and that means one thing: it’s scam season.
Nearly 20 per cent of Canadians have been victims of cons at tax time or know someone who has, a survey by the Certified General Accountants Association of Canada (CGA-Canada) found. Of those, 18 per cent lost or know someone who lost more than $1,200.
According to the Canadian Anti-Fraud Centre, there was an increase in phishing scams occurring at tax time in 2011 and 2012. In March 2011, Canadians lost more than $125,000 to phishing scams alone.
Greed and fear are key factors that can sway otherwise clear-thinking Canadians, says licensed public accountant Blake Mercer of Mercer & Mercer Certified General Accountants Professional Corporation.
“A scheme that purports to offer a quick or larger deduction, credit or refund will appeal to taxpayers who are in a financial situation which would be assisted by a larger refund, who view the notion of paying taxes as a necessary evil and are lookingRead More »from Top 6 Canadian tax scams and how to protect yourself