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ARTICLE · 23 AUGUST 2016

The Taxletter: That Thin Brown Envelope Has BAD News

The month of May can be a wonderful time. Spring is in full force, and tax time is over. Many of you will have received your Notice of Assessment in the mail, neatly contained in a thin brown envelope.

CanadaTax

The month of May can be a wonderful time. Spring is in full force, and tax time is over. Many of you will have received your Notice of Assessment in the mail, neatly contained in a thin brown envelope. Some of you may be doing your happy dance with a favourable Notice of Assessment. If you are not one of the lucky ones, and your Notice of Assessment has brought some bad news from the CRA, then you might be interested in the following discussion.

What to Do? If your Notice of Assessment is unfavourable, the first thing you must do is find out why CanRev has disallowed a claim or otherwise increased your taxes payable. If there's a difference between your figures and CanRev's, it's quite possible that no one has even looked at your return beyond a keypunching clerk. You have a legal right to appeal your case and, more importantly, if you do this properly, you stand a very good chance of winning.

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