Which of the following statements regarding the CRAs power of reassessment of a tax return is correct?

1. For an individual a tax return can be reassessed with five years of the date of the original assessment
2. For any taxpayer, the tax return can be reassessed at any time for gross negligence
3. For any type of losses claimed, the tax return can be assessed within seven to eight years of the original assessment
4. For a deceased individual, the final tax return cannot be reassessed.