CRA Notice of Reassessment, Eligible, How to Respond to a Notice of Reassessment? Getting a CRA Notice of Reassessment is indeed scary. If you get it out of the blue or after filing a tax return, it is essential to understand what the notice is about and how to handle it correctly. Here, we shall walk you through the implications of a CRA Notice of Reassessment and what you should do in case you receive one so you are better prepared to defend your financial interests.
A CRA Notice of Reassessment is a formal statement from the Canada Revenue Agency stating changes made to your tax return after its initial assessment. This notice may confirm that you owe additional taxes, are entitled to a refund, or that there are adjustments to credits and deductions claimed on your return.
CRA Notice of Reassessment Overview
| .What is it | A document issued by the Canada Revenue Agency (CRA) to notify changes made to a filed tax return |
| Purpose | To correct errors, update tax calculations, or include omitted information. |
| When is it issued | After the CRA reviews your tax return and finds discrepancies or new information. |
| Possible Outcomes | Additional tax owed, a refund issued, or no change in the payable amount. |
| Delivery Method | Available online via CRA My Account or sent by mail to your registered address. |
| What to do next | Review the notice, compare it with your original filing, and respond if necessary. |
| Time to Respond | Typically within 90 days if you need to file an objection. |
How to Respond to a Notice of Reassessment
| Step | Action |
| Review the Notice | Examine the reassessment details for accuracy. |
| Compare with Filed | Return Compare the reassessment with your original return. |
| Gather Documentation | Collect supporting documents to verify or challenge the changes. |
| Contact the CRA | Reach out for clarification or to resolve discrepancies. |
| File an Objection | If you disagree, file an objection through the CRA‘s My Account or by mail. |
Tips to Avoid a Notice of Reassessment
- Double-Check Your Tax Return: Ensure accuracy before filing.
- Report All Income: Include all income sources, even if they seem minor.
- Claim Eligible Deductions and Credits: Avoid missing out on benefits you’re entitled to.
- File Supporting Documents: Attach all required documents to avoid processing delays.
- Use Tax Software or a Professional: Helps minimize calculation errors and omissions.
Eligible to Receive a Notice of Reassessment
- Filed a Tax Return Any individual, business, or entity that has submitted a tax return to the CRA.
- CRA Review Trigger Returns flagged for review due to errors, discrepancies, or additional information provided.
- Late or Amended Tax Filing Those who filed late returns or submitted amendments to previously filed returns.
- Audit or Verification Selection Taxpayers selected for an audit or detailed verification by the CRA.
- Additional Information Received Cases where the CRA receives additional tax documents or slips (e.g., T4, T5) after filing.
How to Check a CRA Notice of Reassessment?
- Log in to CRA My Account Visit the CRA My Account portal.
- Log in using your credentials (or register if you don’t have an account).
- Navigate to the Tax Returns Section Once logged in, go to the “Tax Returns” tab to view the status of your tax filings.
- View the Notice of Reassessment Select the relevant tax year to view or download your Notice of Reassessment (PDF format available).
Important Link
| Homepage | Click Here |