Is there any kind of mistake in your taxes?

When you filed your return, you might have missed a tax receipt or slip. Or perhaps CRA has made some kind of change to your return because of a misunderstanding. Regardless of how it occurs, you may find a mistake in your taxes or a mistake in a previously filed income tax return. Never think for a second that this is the end of it!

CRA understands that no one is perfect

The experts at CRA are aware that a lot of people in the income tax system are merely regular people-or, in simple words, tax amateurs. Therefore, this is not shocking that they have a proper system for fixing errors in tax returns. You can request a modification to your return by sending the CRA an Adjustment Request, or you can do it online through Change My Return in My Account.

CRA does not get it right always

When CRA modifies a previously filed tax return, they (CRA) update their records and give the taxpayer a Reassessment Notice at the same time. (These modifications are typically the result of the Matching process or CRA, in which the CRA compares your return for discrepancies between the information they hold about you and the return itself.)

You can submit an Adjustment Request to ask for a correction if you have examined your Reassessment Notice and believe that the CRA made a mistake.

How to Read a Reassessment Notice

The main statistics of the return as they were originally filed (for instance, when you filed your return for the first time) are displayed along with the updated figures, accounting for CRA’s modifications, in the Notice of Reassessment. To determine where changes happen, compare the two columns. A change near the top of the column usually has an effect on the figures at the end, changing your tax liability or refund in the process.

They offer a statement outlining the particular modifications they’ve made and why they think these changes are accurate below the columns of numbers. You should carefully read your Notice of Reassessment to know what has happened and the reason behind it.

Making an adjustment request

You can submit an adjustment request either manually using the form T1-ADJ Adjustment Request or online by using Change My Return option in My Account. You must demonstrate your changes briefly in any case. Prepare your justifications for the correction as well as any necessary supporting documentation in advance. If you submit the paper form, you may write your justifications there and enclose the necessary paperwork. If you use the online mode then you must keep these ready if by chance CRA requests to see them.

To request a correction or change to a return, you have ten years to go back. For example, you have time till December 31, 2023, to make changes to your income tax return of 2013. Your request may take anywhere between a few weeks to months to be processed, depending on the amount of work being done by the CRA and the intricacy of the desired change. Have patience!

Need help?

Raspberry North Accounting can help you in correcting a return, regardless of whether you were mistaken or because of the confusion on CRA’s part. We are the best tax consultant in Prince George and can handle everything related to tax. Contact us today to learn more.