Some people think that filing tax objection to their CRA Notice of Assessment is just a simple form filing excise. What they do not realize is that there is expertise required in drafting a CRA Notice of Objection when you believe that there is an error in your tax assessment.
If you disagree with the CRA’s Notice of Assessment, you can start the process of appeals by means of a CRA Notice of Objection. This is probably one of the best ways to put across a dispute to the decision of the CRA and to reduce your tax debts. It is in your best interest to act as quickly as possible with the proper professional help through the proper channels to overturn that assessment so that you end up paying only the correct amount of taxes.
You have to use the CRA Notice of Objection to explain to the CRA why you feel that they have made mistakes on their Notice of Assessment. You have to put forth all the facts and give evidence to support your case. It is better to take professional help when filing a CRA Notice of Objection.
Your tax consultant has to send the CRA objection form to your respective tax centre and give reasons or indications on why you disagree with the CRA Notice of Assessment. Your CRA Notice of Objection is then handed over to an impartial appeals officer who will take a decision on whether to change your assessment or not.
It is essentially the expertise involved in drafting the CRA Notice of Objection that can make your case stronger. It is for the taxpayer to realize that the burden is on him or her to prove the CRA wrong. For this, you have to submit documentary evidence and arguments to show why the CRA is in error.
Expert professional guidance increases your chances of winning the tax objection. It has the right components such as the policies of the CRA and well documented evidence to prove that the assumptions of CRA in their assessment were flawed. It might very well help the appeals agent to reverse the position of the CRA. Your CRA Notice of Objection will be stronger if you can do some research on CRA’s original decision and the evidence you use to disprove that.
It is better to lay your hands on a copy of the auditor’s report so that you understand the theory built by the CRA on your particular case. This can be done by means of Access to Information and Privacy Legislation. Preparing a good CRA Notice of Objection is necessary for a successful appeal at the internal level. It can also help you avoid the expense of going to the tax court. If you invest the proper money and time at the objection stage, you can save yourself further cost in terms of litigation fees at a later juncture.
The most common appeals found in a CRA Notice of Objection will have items like deductions and expenses, arbitrary assessments and denied credits. There are time limits for filing a CRA Notice of Objection. The limit is ninety days from the date of receiving the CRA Notice of Assessment. It is better to file your objection as early as possible so that you avoid the risk of missing the deadlines and paying an inaccurate debt.