NOA (Notice of Assessment)
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NOA (Notice of Assessment)
A notice of assessment, also known as an N-O-A, is a summary of your tax return. Each year after you do your taxes, the CRA (Canada Revenue Agency) will send you a notice of assessment, either electronically or on paper. It will outline the amount you either owe or are being refunded.
Lenders will require pages 1 & 2. They will use this to verify both your previous years income and if you owe any income taxes. Tax arrears could be placed on the title of your home and take priority over any mortgage financing. Lenders require that tax arrears are brought up to date before advancing mortgage financing.
WHERE CAN I FIND MY NOA?
1. Sign a consent form and we will have a tax professional obtain a copy on your behalf.
2. Obtain a duplicate copy by logging into your CRA online account.
