Tax Tip #2 – Can I Adjust a Previous Year’s Canadian Tax Return?
Posted on 18. Jan, 2010 by Phil Hogan in Canadian Tax Tips
If you find that you’ve made a mistake on your Canadian tax return you are able to submit a T1adj form with CRA to make the changes. Once submitted CRA will assess the changes, make the required changes (in some cases they may want to verify documentation backup for the changes) and send you a Notice of Reassessment explaining the results of the reassessment. The form can be downloaded from CRA’s site here.
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The accounting and tax information provided on this website is for informational purposes only and does not represent binding professional advice. Appropriate tax treatment and advice will depend on an individuals particular circumstances and set of facts.
If you would like to reach me to discuss a tax or accounting matter please call 250-661-9417 or email me at phil@philhogan.com.
