CRA TAX APPEAL MECHANISM
Posted by support2 March 01 2014
Tagged Under : canada tax appeal, CRA Notice of Objection, cra tax appeal, notice of objection
The CRA or the Canadian Revenue Agency collects taxes from the citizens of Canada. Usually, individual, organizations or any businesses pay the amount of taxes calculated by the CRA. In case, the Canada Revenue Agency (CRA) sends a Notice of Assessment, and if you do not agree with CRA assessment or financial interpretation, then you can make CRA tax appeal expressing objection to the estimation or appeal for reassessment.
Filing CRA Tax Appeal needs some knowledge
Many tax payers do not know some of the relevant information about the appeal, such as:
How to make an objection to the decision of CRA.
When to file the CRA tax appeal
What should be put forward to increase the possibility of winning?
What is the procedure of filing a tax appeal?
Most of the taxpayers just accept the decision of the CRA only because of the ignorance of the above facts. Consequently, they pay the demanded tax with the Agency. ?With the objective of winning a CRA tax appeal, the taxpayer must present evidence as much as necessary to prove their possibilities of going further to the tax court.
How to Handle a CRA Tax Appeal
Canadian taxpayers have several options of tax appeal, such as charges of interest, liens, levies, and even the penalties. Accordingly, people may represent the cases optionally through different processes of appeal.
Other people that may help you out in the processing of CRA tax appeal are the tax attorney and tax accountants who are the certified tax professionals to deal with CRA tax appeal.
Obtaining the necessary document supporting your objection of tax assessment is obligatory if you want to make CRA tax appeal. This suggests that, you are to point out the mistake of the CRA in the assessment of tax through right documentation.
In case of improper assessment of taxes, you have to submit the document?depending on the payment of taxes such as?Papers of all the paid taxes,?Proof of assets, Income?slips, etc.
Before you submit the documents, you must be well convinced that all the records are arranged in the right order. ?In case of CRA tax appeal, the collection of tax is typically put on hold until the dispute is resolved and the process of appeal is complete. If the tax appeal becomes unsuccessful, the taxpayer might have to enter for dealing with the mounted up interests throughout the period of appeal.?Therefore, every person of CRA tax appeal should always be prepared for the worst.
How to draft notice of objection for the CRA tax appeal
The drafting of objection notice is very important for submitting a tax appeal with Canada Revenue Agency. ?As it sets your case in motion, it is your responsibility to establish the errors of the Agency. You must submit enough documentary evidence to prove that CRA?tax appeal has been made on the ground of flawed assessment of tax under CRA Income Tax Act. In support of your strong objection, it would be quicker and easier for you to convince the CRA agents to reconsider their assessment.
Never delay to file ?CRA?tax appeal. Do it within 90 days of the Notice. Filing the tax appeal?in time will definitely prevent you from facing the further risk of paying erroneous tax amount.