TFA says: "The official noted that other nations require tax agencies to verify incomes for mortgages, which isn’t the case in Canada."
I don't know if it's a legal requirement, but I sure know I had to hand over all of _our_tax information to the bank to validate income when getting a mortgage in the US. You have to sign a form saying the bank is allowed to pul your data from the IRS; you're not just handing over paperwork and promising that it's legit.
This - not sure where the sentiment in this thread is coming from, but you have to disclose your tax filings for the last 2/3 years along with all your bank accounts and recent statements.
I don't know if it's a legal requirement, but I sure know I had to hand over all of _our_tax information to the bank to validate income when getting a mortgage in the US. You have to sign a form saying the bank is allowed to pul your data from the IRS; you're not just handing over paperwork and promising that it's legit.