Notice of Assessment (NoA) is sent to you after the Canada Revenue Agency (CRA) or Revenu Quebec (RQ) has completed a assessment of your filed tax return. This document is very important to you, and should be reviewed with your tax return filed. You only have (90) days to file an Notice of Objection if you want to dispute a Notice of Assessment or Notice of determination. Failure to file can limit you rights!
Why are Notices of Assessment so important
Not only to they provide very important information that the the government has received your tax returns, they provide confirmations that they either have currently have accepted the facts of what you have filed or an explanation of changes that they have made. If you don’t understand the change it’s the perfect reason to have a Authorized Representative to help you understand the change and you protect your rights.
Not only does the NOA provide the summary of your tax returns it also starts the clock for first (90) days limit to file a Notice of Objection to any changes that the government has made. Failure not to file a Notice of Objection can restrict your rights to challenge the changes made in the assessment. Another good reason to have a Authorized Representative to file the Notice of Objection to make sure your rights are protected.
Your tax Notice of Assessment (NoA) may also includes carry forward amounts that you can include on your next year’s tax return, such as unused tuition and education credits and capital losses. Be sure to keep your Notice of Assessment in a safe place to refer to when your returns are prepared next year.
It’s very common for Banks, foreign governments, and other third parties may request your Notice of Assessment as proof of residence, taxable income, and for other reasons.
For more information on Notice of Assessment visit this page Notice of Assessment – Expert Fiscaliste (expert-fiscaliste.org)
About Expert Fiscaliste
Expert Fiscaliste provides income tax preparation and consulting services to individuals, and businesses in Canada and the US.
If you want to take advantage of our services for your Tax Returns or to be your Authorized Representative Give us a call at 514-954-9031, or visit our Contact Tax
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