What is a Notice of Assessment?

Notice of Assessment, commonly known as NOA, is a document Canada Revenue Agency (CRA) mails after you file your taxes.

It consists of:

  • · your refund amount
  • · tuition carry forward (both federal and provincial)
  • · Tax Free Savings Account (TFSA) contribution limit
  • · Registered Retirement Savings Plan (RRSP) contribution limit

If you have misplaced your NOA, you can access it from CRA My Account. Otherwise you can have your authorized representative (accountant) download it from CRA’s portal on your behalf. 

Remember, first time filers don’t have a Notice of Assessment because its the first time they are filing taxes. Whenever CRA makes a change to your tax file, they issue a Notice of Re-assessment that describes the changes and why its made. We will cover Notice of Re-assessment in another blog.

Community Fundraiser Support – Helping Fight COVID19

COVID19-Donation

Taxants.ca and its team understands the importance of helping the community in its fight against Novel Coronavirus. We believe together we can overcome anything.

When we heard Savemax Real Estate Inc. and Workeefy Inc. have partnered to fund raise, we couldn’t help but support them. Their goal is to fund-raise $50,000 for the front line workers who are working day and night. We are more than happy to participate in it.

Lakshay Gandhi, Founder of Taxants.ca has pledged to help meet the fundraising goal.  He believes “Canada is a rewarding country for hardworking and business oriented people like myself. The least we could do is to participate in efforts like these to help the community and its citizens who are working non-stop away from their families to serve the people”.

Thanks Savemax and Workeefy for giving us an opportunity to be part of this fight against virus.

Protect yourself from Scams

Beware of CRA Imposters

ProteCt yourself from Scams

There are numerous CRA scams that prey on Canadians. It is our responsibility to be vigilant and never give out personal information over the phone.

Mostly these scammers demand information related to Social Insurance Number, credit card number, bank account number, or passport number. This is your personal information and must be protected at all times.

The CRA will never:

  • · use aggressive language or threaten you with arrest or sending the police
  • · ask for information about your passport, health card, or driver’s license
  • · demand immediate payment by Interac e-transfer, bitcoin, prepaid credit cards or gift cards from retailers such as iTunes, Amazon, or others
  • · leave voicemails that are threatening or give personal or financial information