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You Could Be Owed Up to $5,000: The CRA Data Breach Settlement, Explained

  August 21, 2026 If you had a Government of Canada online account back in 2020, it's worth five minutes to check whether you're eligible for a payout. Claims are now open in an $8.7-million federal settlement tied to a wave of 2020 cyberattacks on Canada Revenue Agency and other Government of Canada accounts. If your CRA My Account, My Service Canada Account, or another GCKey-linked account was compromised, you may be entitled to compensation — in some cases, up to $5,000. Here's what happened, who qualifies, and exactly how to file before the deadline. What happened Between June and August 2020, hackers used "credential stuffing" — testing stolen usernames and passwords from other data leaks against government login pages — to break into thousands of Government of Canada online accounts. In some cases, attackers viewed confidential personal and financial information; in others, they used stolen access to file fraudulent claims for pandemic-era benefits like CERB...
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Toronto Housing Market Cools Down as Interest Rates Heat Up

 


The Toronto housing market has experienced a sharp slowdown in October 2023, as the high interest rates that have been pressuring the market show little sign of easing. According to the Toronto Regional Real Estate Board The benchmark price of a home in Canada’s largest city fell to C$1.13 million ($815,000) in October, down 1.7% from September, the Toronto Regional Real Estate Board said Thursday. That’s the third straight monthly drop and the fastest pace of decline in 15 months.

The number of sales also dropped 5% from the previous month, to 4,867 transactions, comparable to the deep market freeze of December and January. The TRREB predicts that activity will not rebound over the remainder of the year, as the Bank of Canada repeatedly says that it is prepared to raise interest rates above the current 5% if inflation remains high.

The high interest rates have made borrowing more expensive and reduced the affordability of homeownership for many potential buyers. The TRREB says that the average monthly mortgage payment for a typical home in Toronto has increased by 25% since January 2023, while the average household income has only increased by 2%.

The cooling of the Toronto housing market is in contrast to the national trend, which saw home sales and prices increase slightly in October, according to the Canadian Real Estate Association. However, some analysts warn that the national figures may not reflect the true state of the market, as they are skewed by the strong performance of some smaller markets, such as Halifax and Montreal.

The TRREB says that it expects the Toronto housing market to remain subdued in the near term, as buyers and sellers adjust to the new reality of higher interest rates. However, it also says that there are still some positive factors that support the long-term outlook for the market, such as strong population growth, low unemployment, and high demand for housing.


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