“The Canada Revenue Agency (CRA) has electronic services that let individuals access their tax and other financial information online,” explains Chartered Accountant Heather O’Gorman, Manager, BDO Dunwoody LLP in Cobourg.
“My Account allows you to review all kinds of information, including your tax return status, RRSP deduction limit, and information on the status of your Home Buyers' Plan and Lifelong Learning Plan, disability tax credit and benefit payments.”
You can also manage your personal income tax and benefit accounts online and, among other things, change your personal information, address or telephone number, apply for child benefits, arrange a direct deposit, and formally dispute your assessment. You may even be able to access information before you receive official notification in the mail.
“My Business Account offers similar services for businesses,” O’Gorman adds.
For further information and to apply for an account, iindividuals and businesses should visit the CRA website at [url=http://www.cra-arc.gc.ca/menu-eng.html]http://www.cra-arc.gc.ca/menu-eng.html[/url] and click on My Account.
Brought to you by the Institute of Chartered Accountants of Ontario.
The Institute of Chartered Accountants of Ontario is the qualifying and regulatory body of Ontario’s 33,000 Chartered Accountants and 5,000 CA students. Since 1879, the Institute has protected the public interest through the CA profession’s high standards of qualification and the enforcement of its rules of professional conduct. The Institute works in partnership with the other provincial Institutes of Chartered Accountants and the Canadian Institute of Chartered Accountants to provide national standards and programs that are used as examples around the world. </em>
