Understanding the CRA Notice of Assessment (NOA) - PowerPoint PPT Presentation

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Understanding the CRA Notice of Assessment (NOA)

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The CRA Notice of Assessment provides a summary of your tax return and outlines any changes or corrections made by the CRA. This document provides information on your tax assessment for the year, RRSP contribution amount, and other important details you might need.includes key details about your tax assessment, RRSP limits, and more. Learn how to access your CRA Notice of Assessment and understand what it means for your finances. – PowerPoint PPT presentation

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Date added: 5 November 2024
Slides: 12
Provided by: sauconsulting
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Title: Understanding the CRA Notice of Assessment (NOA)


1
UNDERSTANDING THE CRA NOTICE OF ASSESSMENT (NOA)
2
A CRA Notice of Assessment (NOA) is a summary the
Canada Revenue Agency sends after they review
your tax return. It shows your tax assessment and
includes critical financial information, like
RRSP contribution limits.
3
WHATS INCLUDED IN THE CRA NOTICE OF ASSESSMENT
  • Account Summary
  • Tax Assessment Summary
  • Explanation of Changes or Corrections
  • RRSP/PRPP Deduction Limit
  • Statements for Home Buyers Plan and Lifelong
    Learning Plan

4
HOW TO RECEIVE YOUR CRA NOTICE OF ASSESSMENT
  • By Mail Sent to the address on your tax return.
  • Online Available on the MyCRA app if registered
    for CRA Online Mail.

5
GETTING A COPY OF YOUR CRA NOTICE OF ASSESSMENT
  • Online View and print from CRA My Account for
    recent years.
  • Mobile App Use MyCRA for notices issued after
    February 9, 2015.
  • By Phone Call CRA, if online access is
    unavailable.

6
TIMELINE FOR RECEIVING YOUR NOTICE OF ASSESSMENT
  • NETFILE Submissions Up to 2 weeks.
  • Mailed Returns 4 to 6 weeks.
  • Peak Periods or Non-Residents Up to 8 weeks may
    take 16 weeks for non-residents.

7
EXPRESS NOTICE OF ASSESSMENT (EXPRESS NOA)
  • Available immediately after processing if
  • Registered for CRA My Account
  • Using NETFILE-certified software

8
REFUND TIMELINE AFTER RECEIVING NOTICE OF
ASSESSMENT
  • Refund generally arrives with the NOA.
  • The refund may be deposited separately or arrive
    in the mail shortly after for electronic NOA.

9
HOW SAU CONSULTING CAN HELP
  • SAU Consulting supports businesses and
    individuals by providing expert guidance with CRA
    Notices of Assessment. Our services include
  • Reviewing your NOA for accuracy and possible
    issues
  • Assisting in clarifying or disputing any CRA
    adjustments
  • Providing advice on deductions, credits, and RRSP
    limits listed in your NOA
  • With SAU Consulting, ensure your Notice of
    Assessment is thoroughly reviewed, so you can
    feel confident in your tax results.

10
The CRA Notice of Assessment is an essential
document to understand your tax standing. SAU
Consulting is here to help you make sense of it
and address any concerns, ensuring you make
informed financial decisions based on your
assessment.
11
CONTACT DETAILS
www.sauconsulting.ca
info_at_sauconsulting.ca
(587) 284 3266
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