Canada’s Social Security system will soon be able use “the same” data that banks and financial institutions use to track financial transactions, according to a new report by the Canadian Taxpayers Federation.
The report says that the government will be allowed to collect “the information” from all Canadians when they apply for a mortgage, a benefit that is often exempt from federal privacy rules.
Under the proposed rules, the Canadian Revenue Agency would be able “identify individuals and their assets,” according to the CTF report.
“As part of the government’s commitment to privacy, the CRA will be required to collect the same information from all individuals and will collect and retain the same data for as long as necessary,” the report says.
The CRA, which handles mortgage applications, has been lobbying the government for a year to extend the same protections as banks, but has not been able to convince Ottawa to do so.
In the report, the CFPF said it is now pushing the government to allow the CRA to collect more data on individuals to better understand the financial status of Canadians.
The CTF also says it will be more than happy to provide the CRA with any data it wants.