#Tax return canada revenue agency plus#
If your payment hasn’t gone through and they processed the return, they’ll send you a bill for the entire amount owing plus interest. The computer that reviews your tax return won’t know you owe the money until after it completes the NOA - so it marks the amount as missing. You paid the amount on April 30th, but since the CRA hasn’t processed your payment yet, the $10,000 is still sitting in your unallocated payments account and hasn’t been applied to the amount you owe. The NOA is computer generated, which means payments sent with your tax return may not be reflected immediately on the NOA.įor example: let’s say you owed the CRA $10,000 this year. You already paid your tax bill, but your NOA says you have a balance owing or that you owe interest. Your tax payment hasn’t been processed yet There are a few common reasons for discrepancies:ġ.
What if I have discrepancies on my NOA?Īlways compare your NOA against the calculations on your filed T1 or T2 income tax return and see if there are any changes. If you feel you should have received your NOA - but haven’t - contact the CRA at 1-80 (for businesses). If you submitted your tax return through Netfile, the CRA’s electronic tax filing service, it’ll take about two weeks for you to see your NOA in “ CRA My Account“, the secure online portal where you can view your personal income tax and benefit information. It also lists important details like your RRSP deduction limit, and carry over amounts for next year’s return, like unused tuition, education credits and capital losses. The NOA is an annual statement that lets you know how much income tax you owe (or how much your tax refund will be).
#Tax return canada revenue agency how to#
We provide some tips below on what to look for when you receive your NOA, common discrepancies between your NOA and tax return and how to handle them. After you file your tax return, you’ll be issued a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA).
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