Posted on May 29, 2019 in Personal Tax Since You Asked Tax Planning

"I am refinancing my mortgage and need my NOA. What is that? Where do I get it? "

NOA = Notice of Assessment

An NOA is a notice from CRA that confirms you have filed your taxes with them. This is sent to you upon filing your corporate and/or personal taxes. This is generally mailed directly to you from CRA. Alternatively, it could be available online if you signed up for e-notices from CRA.

When you refinance your mortgage and/or line of credit (personal or business), the mortgage broker (banks and credit unions too) generally requires your NOA. So when you file either of these tax returns, you will want to save the NOA in your records and also compare to what was filed to make sure that CRA did not make any changes that you or your Accountant are unaware of. Furthermore, you will likely need multiple years so make sure you keep them in a safe and memorable place.

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***This blog is for information only and not to be used as tax advice or planning without first seeking professional advice. Information is subject to change without notice.