Congratulations on filing your tax return! Here’s everything you need to know about what comes next.
When will I get my Notice of Assessment?
If you’ve signed up for your My Account with the Canada Revenue Agency, you’ll have your Notice of Assessment (NOA) sent directly to your account, if not the CRA will mail your notice, which usually takes about 2 weeks.
When will I get my refund?
When you use TurboTax to file your taxes online and sign up for direct deposit by entering your current banking information, you can receive your refund in as little as 8 business days. It’s faster than submitting your tax return by mail to the CRA, which may take up to 8 weeks to process. You can also track when your tax return has been assessed, and the current status of your refund through your CRA My Account. Just make sure to update your banking information in your account before you file to ensure you get your refund as quickly as possible.
What if I owe money?
Don’t worry, TurboTax will let you know if you have any balance owing before you file your taxes, so you know where you stand. Once you have filed your return and know how much you owe TurboTax will list all the various payment options for you.
To avoid interest charges, make sure you pay any balance owing by the tax deadline, which falls on April 30, 2018.
What if I can’t pay my full balance owing?
If you can’t pay the full amount owing, you can make a payment arrangement with the Canada Revenue Agency to pay off your outstanding amount while taking your financial situation into consideration.
After April 30, 2018, the CRA will charge interest on any amount owing up until your balance is paid. The CRA can grant relief from penalty and interest, but only in certain circumstances.
Can I make changes after I’ve already filed?
Yes! It is possible to make amendments to your tax return after you’ve filed.
Making changes online
You can make changes to your tax return online through the CRA My Account service:
- Start by logging in to your account online with your User ID and password
- Under the Quick Links, click on the link that says Change My Return
- Select the year you’d like to change from the drop-down menu
- You can do a search of your T1 General for changes you’d like to make by entering the description or line number
- For example, you can enter “employment income” or “101” to bring up the line related to employment income
- You can also browse the sections of your tax return and make changes manually
Please note that you must follow all the steps for the changes to submit successfully.
You can make a request for changes to one or more tax year in one submission, and you’ll receive a confirmation number once the CRA receives your request.
If you want to make further changes after submitting your request, please wait until the request has been processed before submitting others. Processing time for changes submitted online is about 2 weeks.
Making changes by mail
You can also make changes to your tax return by mail:
- Complete and submit a T1 adjustment request form (you can download a copy of the T1 adjustment form online on the CRA website)
- Include supporting documentation – such as receipts – that support the change you are requesting in your tax return and your original claim
- When mailing your change request to your tax centre, include the T1 adjustment form or a signed letter outlining your request
- Include the tax years you are requesting the change for
- Also, include your Social Insurance Number, your mailing address, and the best phone number to reach you at during regular business hours
The processing time for changes submitted by mail is about 8 weeks. It may take the CRA longer to process your request if it is submitted in later summer or fall, or if your request needs further review or additional documentation.