It’s never been easier to access your tax notice of assessment, T4, check the status of your benefit applications and payments using My CRA online account. But first, you do have to work a little and set it up. Don’t worry – we got your back!

If you are a taxpayer in Canada and haven’t yes signed up for a My CRA online account, what are you waiting for?

In our experience, it makes accessing documents at a moment’s notice simple, and that can make all the difference at crunch time!

An online My CRA account allows you to:

• View and print your income tax returns and notices of assessment from current and previous years.

• View and print your tax information, like T4 and T5 forms

• Track your tax refund

• Change your tax return

• Apply and view the status of your Canada Child Benefit

• Check your RRSP deduction and your TFSA contribution limit

• View messages from CRA

• Access your Lifelong Learning and Home Buyers’ Plans

• View GST/HST credits

• Update your personal details including your mailing address, phone number, banking information and marital status

• Use “Auto-fill my return” service when filing your tax return

• Submit documents to CRA

• View your account balance and amount owing and so much more

So now that you’re convinced, where can you begin?

First, let’s look at an individual account.

Option 1. If you have a bank account and online banking with one of the financial institutions listed as a sign-in partner, you can use this option to register for My CRA Online account. Before you begin, please make sure you have the following information handy: your social insurance number, date of birth, postal code, your tax returns for the current year and previous one. You will be required to enter an amount you have entered in one of these returns.

Once you have all the details, follow the link to CRA website.

Under Option 1 click Sign-in Partner Login/Register.

Select a sign-in partner you bank with.

Login using the credentials you would normally use to log into your online banking account.

Validate your identity by entering some personal details.

You will be granted limited access to your CRA account. Shortly you will receive a CRA security code in mail, which you can enter next time you log in (keep in mind it has an expiration date, so it is important to enter it as soon as you receive it in the mail). Once you’ve entered the code, you will have full access to your account and can log in using the sign-in partner credentials in the future.

Option 2. Before you begin, please make sure you have the following information handy: your social insurance number, date of birth, postal code, your tax returns for the current year and previous one. You will be required to enter an amount you have entered in one of these returns.

Once you have all the details, follow the link to CRA website.

Under Option 2 click CRA Register

Validate your identity by providing personal details and click next. You will be asked to create a CRA ID and a password using the listed requirements. The next step is to create your security questions and answers.

Once you have completed all the steps, you will be granted access to limited information in your CRA account. A security code will be mailed to you and next time you log in you will be prompted to enter the code.

As you can see, creating an account is really not that complicated but there are many great benefits to doing so.

To learn about your Tax Returns, check out our Filing Cabinet. Happy tax planning!