Understand your notice of assessment (NOA)

Notice of assessment (NOA):

After filling your tax return, you will receive a notice of assessment by mail or electronically.

Most of time, the NOA is just a confirmation of your tax return your submitted.

1. Check your tax owing / refund to make sure it matches what you submitted. The NOA will show the tax owing for the current year and the total tax owing. The total tax owing is the current tax owing plus any other unpaid taxes accumulated from the previous years.
2. Pay close attention to see if the CRA make any adjustment or is requesting more information from you. Example, the CRA may automatically adjust your tax return based on your tax slips (T4, T5, etc.) that you have missed. The CRA may also request world income for new immigrants, and the proof of tuition paid (T2202 and Schedule 11). If you do not understand your NOA, please contact the CRA (1-800-959-8281) or your tax accountant.

Other important info you can get from NOA(notice of assessment)

1. Your RRSP contribution limits and repayment amount required for home buyer’s plan amount
2. Your TFSA contribution limits
3. Your unused tuition amount
4. Unused net capital losses amount