Tax Tip #2 – Can I Adjust a Previous Year’s Canadian Tax Return?

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If you find that you’ve made a mistake on your Canadian tax return you are able to submit a T1adj form with CRA to make the changes. Once submitted CRA will assess the changes, make the required changes (in some cases they may want to verify documentation backup for the changes) and send you a Notice of Reassessment explaining the results of the reassessment. The form can be downloaded from CRA’s site here.

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