Like many areas of internet-age life, Canada Revenue Agency (CRA) has been moving towards eliminating paper mail and relying on online forms and communication. In many cases, Notices of Assessment, Review Letters, and other important mail related to your taxes may no longer be sent to you by mail, and are only available in your CRA MyAccount Online Mail.
Having access to your CRA MyAccount will help you to avoid missing important communications from CRA regarding your taxes. You will also be able to view and download your Notices of Assessment for previous years – often required when applying for financial services. You will be able to view the amount of credits/benefits you are due to receive, such as Canada Child Benefit and GST/HST Credits. Your account will list any “uncashed cheques” – credit or benefit payments that you never deposited, along with instructions to retrieve those payments. In addition, you will be able to view and download Tax slip summaries (T4, T4A, T5, T3, etc) issued to your Social Insurance Number, which will aid in ensuring your tax returns are complete and up to date.
As your tax preparer, granting SheDo Tax access to your CRA account allows us to confirm and reference the information the CRA has on file, assisting us in preparing your returns. With online access, we can submit documents on your behalf for reviews or program applications. We will also be able to view and download slips or CRA Mail from your account in the event that you misplace your password/Multi-Factor Authentication or are unable to log in to your account. All of this helps to ensure that we are preparing the most accurate and beneficial tax return for you.
Notices and Statements of Account on the CRA MyAccount can be confusing! Having access to your account allows us to view things as they appear in your account and help you understand the information.
For our business clients, having access to your MyBusiness Account ensures that we can file HST returns and T-slips, view Mail, Balances and program information, and generally ensure that your business stays up to date with all filing requirements.
While it may be a hassle to sign up for a CRA MyAccount for some, once you have access, you will always have the benefits of quick and accurate tax information. We hope we can help make this process as clear as possible so that you can gain online access and authorize your favorite tax preparers (that’s us!) to help you navigate your personal and business taxes with ease!
– Nica and the SheDo Team