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In this blog, we will be discussing the different levels of authorization you can choose from when authorizing a representative with the CRA. By choosing the level of authorization, you are able to control the type of access the CRA can give to your representative. LEVEL 1 – Disclose informationA level 1 authorization will allow your representative to access the following information:- Information given on your T1- Adjustments made to your T1- Information about your registered retirement savings plan, Home Buyer’s Plan, tax-free savings account and Lifelong Learning Plan- Your accounting information such as balances, payments, instalments and transfers- Information about...
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There are some instances when you, as a taxpayer, need someone to help in resolving some issues with the CRA. And since an individual’s tax information is confidential, the CRA will need your authorization to deal with another person who would act as your representative. A representative is a person or business that you authorize to deal with the CRA for you. This person can be your spouse, a family member or your accountant. You can check if you already have representatives listed on your file and what they are allowed to do on your behalf by calling the CRA at...
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Are you waiting for your income tax objection to be resolved? Here is an update on the timelines with regards to the assignment and resolution of income tax objections based on its complexity. 1. The majority of low complexity objections now being assigned to an appeals officer were received in January 2018. Objections resolved in March 2018 were completed in an average of 81 days from the date the objection was submitted. Low complexity objections often involve issues such as individual tax credits, personal deductions, Canada Child Benefit and Disability Tax Credit. 2. The majority of medium complexity objections now being...
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There are some instances when dealing with the CRA seems like a full time job. One of these instances is when a taxpayer is selected for an audit or a review. In addition to the worry and stress of being in an audit, CRA auditors often use tax and accounting terms that your average person may not understand.So if you have been contacted by the CRA for the purposes of a review or an audit, here are some tips that will make the audit and review process easier. 1. The first and most important thing you can do is call for...
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