So the CRA wants to review your tax return, if you’ve read the first part of our blog, you now know what to do. But what happens AFTER your review? After your reviewAfter your review, the CRA will let you know the results IN WRITING, either in a letter or on a notice of assessment or reassessment. If after the review you owe more tax, remember to pay your amount owing in full as soon as possible. And if you can’t pay the full amount, you can call the CRA to set up a payment arrangement. It is important that if...
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Does CRA want to review your tax return? Don’t panic! A review is not an audit. Generally, a review is a routine check that the CRA does to ensure that amounts you have claimed are accurate. It also might be because some documents are required to support your claim. So breathe, keep calm and read on for important information. First, do you know why the CRA is reviewing your tax return? The Canadian system is based on self-assessment and when we file, we are usually not required to include our supporting documents. So to ensure the integrity of the tax system,...
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After you have authorized your representative and the CRA has processed your request, it is still your responsibility, as a taxpayer, to:- Monitor and understand the transactions your representative completes on your behalf. Be aware of all the transactions your representative made and will make. Most importantly, make sure you are always aligned with your representative on what the expected end results of these transactions will be. - Make sure the information about your representatives is up-to-date with CRA. - Cancel the authorization for any representatives you don’t need anymore. - If you think your representative is not acting in your...
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You can authorize your representative with the CRA online (using My Account for Individuals) or by mail. If you send your authorization by mail, make sure:- You have a valid account number with the CRA;- CRA has your current mailing address;- You have read the instructions before completing Form T1013, Authorizing or Cancelling a Representative;- You fill out a separate form for each account and for each representative;- You or your legal representative has signed and dated the form. You can send your form to your tax centre listed on your notice of assessment or notice of reassessment. You will need...
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