Notice of Assessment, which is also known as NOA is similar to a receipt that you receive after filing taxes in Canada. It is provided by the Canada Revenue Agency to acknowledge that they received your tax return. This is your only confirmation that you have successfully filed for taxes in a timely manner.
What information is available in the Notice of Assessment?
On the Notice of Assessment, you will be able to find additional information related to the results of your assessment. You will be able to get your tax payable or refund amount, tuition carryforwards, contribution limits to Tax free Savings Account (TFSA), Registered Retirement Savings Plan (RRSP) and Home Buyer’s Plan. In addition, if there are changes, you can find detailed explanations for them along with other related information.
Understanding information available about this:
Before you obtain the Notice of Assessment, it is better to have a clear understanding about information included within it. The Notice of Assessment will include information related to the tax returns that you are filing as a taxpayer. This will be a document containing two pages. It will contain some basic information related to you, such as your full name, tax year, social insurance number and the tax center.
When you are going through the Notice of Assessment, you might come across errors. In such a situation, you have the ability to go ahead and submit a request for adjustment. While doing that, you will need to highlight the errors that you noticed. However, this process is not something that you will be able to do on your own as it is confusing. This is where you will need to get the help of a professional tax advisory service such as Taxants. They can help you understand the correct process that you should follow to highlight all the errors and get them fixed.
Methods of receiving Notice of Assessment:
You don’t need to do anything as the Canada Revenue Agency will mail or email it over to you automatically. There are two different methods that CRA would follow in order to provide you. They include:
- Sending Notice of Assessment over mail
The Canada Revenue Agency will send your Notice of Assessment via postal mail. You can expect the mail to receive on the mailing address that is included in the tax return. It is key to have the most up to date address with CRA such that these correspondences are not lost.
- Sending Notice of Assessment via email
You can also receive the Notice of Assessment via email from Canada Revenue Agency. The email will not include all of the information. It will only be a notification, which states that you will be able to access Notice of Assessment from CRA Online Mail Portal. It is possible for you to sign up for an account to gain access to this portal at the time of filing the tax return. Or else, you can also do it yourself by simply registering for CRA My Account.
It is possible to get a copy of the Notice of Assessment?
If you misplace the Notice sent to you by CRA via mail, you don’t need to worry too much as you still have the chance to request a copy of it. There are two different methods available for you to follow and request for this copy. Here is additional information related to those two methods.
- Requesting for a copy of Notice of Assessment via My Account on CRA
You will be able to use the My Account on CRA to take a look at your Notice of Assessment. It is even possible for you to take a direct printout of it. Or else, you will be able to use the My Account on CRA to gain access to all the notices that are offered after the 9th of February of 2015. You can call it a comprehensive platform that contains all sorts of information related to you. There are detailed summaries of all the notices that were issued after the year 2004 available on My Account.
- Requesting for a copy of Notice of Assessment via the mobile app of CRA
CRA has a dedicated mobile app, which people can access to get their hands on lots of useful information. It is possible for you to get a copy of your Notice of Assessment via this mobile app as well. Along with the Notice of Assessment, you will also be able to gain access to all the reassessment notices that were issued after 9th of February, 2015 in this mobile app.
I cannot find my Notice of Assessment. Why is that?
In some of the instances, you will notice that you will not be able to find your Notice, even on the online portals. This happens only when you have filed your tax return recently or in the current year. It will usually take around two weeks for CRA to analyze your tax return. If you submitted the tax return to the NETFILE service of CRA, the process would take four to six weeks.
Hope our discussion on Notice has equipped you to find relevant information about your tax returns. For further information, visit the Blogs section of Taxants.ca.