If you receive a notice from CRA tax and not ready to accept it, you may file Tax objection. You can either do it by yourself or can contact with an expert tax accountant to have them checked or reassessed.
How to File Tax Objection
It is fact that people most often do not have any idea about
- If they are at all entitled to file objection to CRA tax assessment.
- How to make the objection for reassessment,
- What is the right time to file Tax Objection,
- What should be the best supportive documents to boost the chance of winning the case, etc.
All the above factors make the most of the taxpayers find no other option but to swallow up the bitter pills and disburse the amount claimed by the CRA. So having a skilled and veteran tax professional is an added advantage for the people who want to file Tax objection.
You are entitled to withhold the amount till your case is officially evaluated by the CRA. In other words, if you have submitted tax objection, it is not necessary that the disputed amounts are to be paid instantly. You can pass the time till Tax Appeal Division brings out its final decree about your case.
On the other hand, after you have submitted the objection, then you can ask for the disagreed amount of money that you have already paid to the CRA. For getting a refund of your excess money, never take it lightly by doing it yourself. It is wise to consult an expert for filing Tax Objection.
In case you receive a CRA Notice of Assessment, and want to submit a Tax Objection, you must do it within 90 days. If you want to win a tax appeal, the best thing to do is to hire a competent tax professional to appeal for you.
As there might be unusual variables in regard to the dates, it is a best idea to consult with a trained and experience tax professionals for better understanding of your situation. Always ensure that the documents in support of your Tax Objection are all valid and in correct format.
People most often ignore the idea of consultation with any of the trusted, skilled professionals that can deal with the Tax Objection successfully. Later they regret realizing the error they had made. They might face fiscal set back later because of the error committed at the time of filing.
After you file the tax objection, the Appeal Officer of CRA will review your stand. This officer is the part of the CRA but is autonomous to the Audit section that generally prepares the assessment. Thus, it ensures that your appeal of objection is being attended by some new eyes. These people have no idea of the outcome.
You can talk to the Appeals Officer with a view to persuade the person about the authenticity of your position. You can also do the same in writing. In reality, there is no formal “inquiry.” If the Officer is in agreement with you, the reassessment of your tax objection might be left out or might be prepared differently to reproduce your position.