Express Notice of Assessments and How to Get Them
To receive an Express NOA filing as an individual, you must be registered for the CRA service, My Account, and their Online Mail Service. You must also have used Netfile-certified software. Once you netfile, you will be prompted to enter your user ID and password to access the CRA Express NOA service. It will then be delivered to your software. It’s important to keep in mind, though,h that if this is your first time filing your income taxes, you won’t be able to use this service. This is because you cannot use the My Account service until you have had one return assessed by the CRA.
Why Paper Filers Can’t Receive an Express NOA
With the Canada Revenue Agency, the express NOA service is only available to those who efile or netfile their income tax return. This is because the information must be processed digitally and immediately. With a paper-filled return, processing can take 6-8 weeks. Even though electronic filing can take 2 weeks, the information is processed immediately and turned into an NOA.
Using an Express NOA as Proof of Income for Loans
With an express NOA, the same information that is on your NOA is on an express NOA, so that it can be used as proof for a loan. It contains your mailing address, and can be found in your My CRA account online mail or in your tax software.
Signing Up for an Express Notice of Assessment Through Tax Software
Express Notice of Assessments is a service that is offered by the Canada Revenue Agency. Just like the other Notice of Assessment, it’s considered to be an official document. Instead of being sent to you in the mail, though, you can view it through efile and netfile certified tax software. And instead of having to wait a few weeks for it, you can view it almost immediately. That said, this is actually an optional service, but it isn’t available to everyone.
Can an Accountant Access and Express NOA?
An accountant, as long as they’ve been made an authorized representative, can access an individual’s income tax Express Notice of Assessment. Both you and they will be able to view assessments right away. You can access it through the CRA’s My Account service.
How to File a Notice of Objection
If you disagree with your Notice of Assessment, you can file a formal dispute, which is known as a Notice of Objection. This dispute must be filed within 90 days of receiving the notice or one year after the tax filing deadline, whichever is later.
Before you file, it’s important to gather your supporting documents to support your claim. It’s important to verify that the key information is included for the part of the assessment that you’d like to change. You can either file the form via mail or through your online My CRA Account.
Information Included on an Express NOA
If you do opt in to receive your Express NOA, that means that you will not receive a paper copy of your NOA in the mail. The Express NOA will contain the same information as a traditional CRA Notice of Assessment. This information is:
- an account summary, also referred to as a tax assessment summary
- The results of your return show if you have a tax refund, a zero balance, or a balance owing.
- RRSP(Registered Retirement Savings Plan) /PRPP(Pooled Registered Pension Plan) deduction limit statement
- Home Buyers Plan statement, if applicable
- Lifelong Learning Plan statement, if applicable
- Your deposit information, such as your bank account, financial institution and direct deposit information
- Your business number, if you have your own business
- How much did you receive back in tax credits (disability tax credit)
What’s no longer included on your Notice of Assessment you get in the mail, or your Express Notice of Assessment online, is the maximum contribution limit for your Tax Free Savings Account (TFSA). However, you can still access this information online by registering for or logging into your My Account.
It’s important to keep in mind that while an Express NOA is the same as a traditional NOA, there is a chance that if you owe money on your tax bill, how much you owe may not be shown if you have to pay taxes around the same time that you file your tax return online with tax filing software. If this is the case, you can call the CRA’s tax information phone services or sign in to your My Account on the CRA website.
Express Notice of Assessment Vs. Proof of Income Statement
While both of these statements can serve as proof of income, there is a slight difference. Your NOA is a comprehensive document that includes your full income picture. Your proof of income is a summarized statement that includes your Total income, as found on line 15000 of your Notice of Assessment.
Why Your Refund May Differ From a Software’s Estimated Amount
Your tax software gives the best estimate that it can based on the information you input into it. Once it’s sent to the CRA, it will be reviewed, and they will check the information. If everything is correct, the information will remain the same. If they find any discrepancies, they will make those changes, and they will be reflected on your NOA. This is different than an audit, which looks into multiple tax returns.
Once your official NOA is ready, it will be sent to your My CRA account or sent via mail. If it was sent to you, you can download and print the form. Otherwise, it will stay in your online account.
Difference Between a Notice of Assessment and Reassessment
Your Notice of Assessment is the official document issued when your taxes are filed. If you need any changes made to your NOA, you can request a reassessment. Once the reassessment is issued, all the same information will be included, and all changes will be highlighted.
What Each Section of an NOA Means
On your annual NOA, there are different sections. At the top, you’ll see your name, mailing address, and Social Insurance Number. The tax year will also be at the top. The next part presents your account summary, which provides a full picture of your finances.
Under your tax assessment summary, some important total income amounts are included:
- Line 15000 – total income
- Line 23600 – net income
- Line 26000 – taxable income
- Line 43500 – total payable
- Line 48022 – total credits
If any changes were made to your NOA, you’ll find a note about them under these amounts. Then, below that will be your RRSP deduction limits, also known as your contribution room.
Carry Forward Amounts Shown on Your NOA
On top of everything else on your NOA, you’ll also find your carry-forward amounts. Depending on your tax situation and eligibility, these will include:
- Tuition/education credits
- Capital losses
- RRSP contributions/ contribution room
Why Keep Your Notice of Assessment
Your Notice of Assessment contains a summary of your tax records for the year. While it contains the information from your T4 and other tax documents, it’s an official government document used to prove your income. Many financial institutions will ask for it to get a loan or purchase a home. It’s also proof that you filed your tax return.
How Long to Keep it For
It’s usually recommended that taxpayers keep their NOAs for at least 6 years. This way, if you need to access them for any reason, including audits, you have them. However, with access to your My CRA account, you should be able to access 3 years’ worth of NOAs on there as well.
Retrieving Previous Year’s NOAs From a My CRA Account
Your My CRA Account allows you to access up to 3 years of your previous NOAs. Once you log into your account, all you need to do is navigate to the tax return section, and then you can download them from there.
Owing Money on Your Taxes and Being Unable to Pay
When it comes to paying your taxes, you can do so with a cheque, online or through online banking. However, if you’re unable to pay, the best thing to do is contact the CRA. You can make a payment arrangement with them based on what you can afford.
