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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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If you have received your Notice of Assessment and you think it is incorrect or you have additional information to provide the CRA, here are some points to consider so you can determine the best course of action to take. ·         If you want to provide the CRA with missing information for a tax return you have filed previously:  You can generally ask for a change to your personal tax return for a tax year ending in any of the 10 previous calendar years.  So you can ask for a change rather than filing an objection right away. ·         If you...
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In a recent article on the Financial Post entitled, “Tax Expert: When it comes to taxes, deadlines are to be take seriously,” author Jamie Golombek reminds taxpayers that in most cases, tax deadlines when missed could lead to “punitive results as a recent tax case demonstrates.” One very important deadline that we should all be aware of is the one for filing your Notice of Objection if in case we object to a tax assessment. You must submit your formal Notice of Objection to the CRA one year from your normal filing due date (generally April 30) or 90 days after...
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Last Thursday, we went through the steps in filing an objection if you disagree with the CRA’s assessment of your income tax and benefit return.  We also mentioned that once you are informed of the results of the review after your objection and if you still disagree with that decision, you can still appeal your assessment to the Tax Court of Canada.   The Tax Court of Canada has to receive your notice of appeal within 90 days of the date the CRA sends their decision on your objection.  You can also apply to the Court if the CRA fails to give...
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