What is a pre-assessment, a notice of assessment, and a notice of re-assessment?

Many Canadians believe that the moment they file their tax return is the moment they allow themselves to stop thinking about taxes for another year. In fact, a tax return, once filed, can be assessed a number of times by either the Canada Revenue Agency (CRA) or Revenu Québec to make sure the information contained within is accurate.

Did you know? There are several reasons why your return might be selected for a detailed review or audit. Factors like your refund amount, the credits you’ve claimed, or if you’ve missed the tax filing deadline on more than one occasion can all cause your return to be flagged for a closer look. Returns can also be selected for review at random so remember – just because the CRA has chosen to review your return, doesn’t necessarily mean you claimed something you shouldn’t have.