CRA Tax Assessments in Canada

At AIV, we specialize in assisting individuals and businesses with CRA tax assessments. We have over 10 years of experience navigating the complexities of Canadian tax law and successfully resolving disputes on behalf of our clients.

Don’t miss the tax assessment step! While submitting your tax return is crucial, the Canadian Revenue Agency (CRA) still needs to review your documents. This review, called a tax assessment, ensures everything is accurate and determines whether you owe more tax, receive a refund, or both.

Get Your Tax Problems Solved By AIV

Canadian CRA Tax Assessment Experts

For over 10 years, AIV has been a leading force in Canadian tax accounting. Our dedicated team of tax professionals specializes in CRA tax returns and assessments, serving individuals and a diverse range of businesses across all Canadian cities. From retail and distribution to construction and non-profit organizations across diverse industries, we possess the expertise to handle complex tax situations and maximize your financial benefits.

Our income tax assessment experts work closely with you to understand your unique needs and navigate the entire tax process seamlessly. We provide insightful explanations, clarify any discrepancies, and ensure you confidently address CRA inquiries. With us, you’re not just another case; you’re a valued client receiving the highest level of care.

Get expert help with your NOA. We’ll decipher it for you, confirm any balance due, and find the fastest, smartest solutions for your tax return and assessment.

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CRA Notice of Assessment in Canada

Demystifying Your (NOA)

After you file your taxes every year, the Canada Revenue Agency (CRA) sends you a Notice of Assessment (NOA) document. This document is your tax report card, summarizing everything you reported and the resulting tax outcome.

Your Notice of Assessment (NOA) is like a treasure map leading you through the ins and outs of your taxes. It contains all the crucial details you need, from the date your return was assessed to the amount you owe or the refund you’re expecting.

Need Tax Help in Canada? Don't Sweat It!

At AIV, we understand that receiving a Notice of Assessment (NOA) can be confusing and overwhelming. That’s why our experienced accounting professionals are here to help you understand its intricacies and determine the best course of action.

Don’t let the complexities of tax assessments and audits overwhelm you. We understand the intricacies of corporate and personal income tax filings and CRA regulations, empowering you to face any tax challenges confidently.

Dispute Your Notice of Assessment (NOA)

Feeling overwhelmed by a recent corporate or personal CRA tax assessment? Don’t despair! If you believe their findings are inaccurate or unfair, our experienced professionals are here to help.

Act promptly after receiving your Notice of Assessment (NOA). According to the Income and Excise Tax Acts, you have 90 days to object to your tax return assessment. This crucial timeframe starts when your NOA is sent, not when you receive it.

Don’t let time slip away. Missing this deadline can limit your options for resolving any discrepancies with your assessment.

If you disagree with your corporate or personal income tax assessment, you can file an objection with the Canada Revenue Agency (CRA). To ensure your objection is successful, it’s crucial to understand the process and submit the required information accurately.

Why Choose Us For Your Tax Return Assessment

For over a decade, AIV has proudly served as a leading accounting firm, empowering Canadians to achieve their financial goals. Led by our trusted President, Zohaib Haaron. our team of dedicated professionals possesses unparalleled expertise in navigating the complexities of tax filings, returns, and assessments.

Facing your income taxes and CRA assessments can feel daunting, but you don’t have to navigate it alone. We’re here to empower you with the knowledge and resources you need to proceed confidently.

At AIV, we understand the complexity of navigating tax laws and assessments. That’s why we offer comprehensive and personalized services to help you understand your assessment, maximize your benefits, and achieve peace of mind.

FAQs

In Canada, a tax assessment, also known as a Notice of Assessment (NOA), is issued by the Canada Revenue Agency (CRA) after you file your income tax return. It summarizes the information you provided on your return, calculates your income tax liability, and determines whether you owe money to the CRA or are entitled to a refund.

A notice of assessment (NOA), sent by the Canada Revenue Agency (CRA) about two weeks after you file your tax return, outlines your tax assessment details, including any refunds or amounts owed. 

This valuable document contains information such as eligible tuition credits and maximum RRSP contributions, enabling you to assess your tax situation and determine the next steps regarding payment or disputes with the CRA.

Missing your notice of assessment can lead to inconvenience and potential complications. Firstly, it can hinder filing future tax returns, as the NOA is proof of income and deductions. 

Secondly, obtaining loans, grants, or other financial assistance may be delayed or even denied without it. Additionally, proving your income to landlords, employers, or others could be challenging. 

Furthermore, you might miss out on crucial tax credits or benefits due to the absence of the NOA, and your refund might be delayed. Luckily, obtaining a new one is easy. You can contact the CRA at 1-800-959-8281, visit their website to request a copy online or access it electronically through the My Account portal. 

The Income Tax Act outlines several types of income tax assessments in Canada. Each assessment serves a specific purpose and involves different procedures:

Self-Assessment: This is the most common type of assessment. You calculate your income tax liability and submit a tax return to the Canada Revenue Agency (CRA). 

Summary Assessment: This type of assessment is used by the CRA to review tax returns that are considered to be low-risk.

Scrutiny Assessment: This type of assessment is used by the CRA to review tax returns that are considered to be high-risk or that have been selected for further examination. 

Best Judgement Assessment: The CRA uses This type of assessment when a taxpayer has failed to file a tax return or has provided incomplete or inaccurate information.

Reassessment: The CRA uses This type of assessment to correct errors or omissions on a previously issued NOA.

The initial assessment you receive from the Canada Revenue Agency (CRA) is called a notice of assessment (NOA). It is sent to you electronically or by mail after you file your income tax return. This document summarizes the information you provided in your return, including your income, deductions, and credits. It also shows how much tax you owe or your refund amount. 

No, income tax return and notice of assessment are not the same. While they are both related to your taxes, they serve different purposes.

Income tax return: This is the form you file with the Canada Revenue Agency (CRA) to report your income and deductions for the previous year. It is essentially a self-assessment of your tax liability.

Notice of assessment (NOA): This is the document you receive from the CRA after they have reviewed your income tax return. It summarizes the informa

Our goal is to help people in the best way possible. this is a basic principle in every case and cause for success. contact us today for a free consultation. 

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