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Tax Assessment in Canada?
1. Is the NOTICE OF ASSESSMENT document the same as TAX ASSESSMENT?
2. Do people under the age of 18 receive tax assessments?
Please answer my questions as specific as possible so that I can understand. Thank you!
1 Answer
- Fred SLv 79 years agoFavorite Answer
1. No. A Notice of Assessment is CRA's response to your filing a tax return. It tells you they've accepted the return, and whether they've made any changes to it. A tax assessment is normally a valuation put on your house from property tax purposes, although it's a generic term, and could be used elsewhere.
2. Age has nothing to do with it. Anyone who files an income tax return (regardless of age) will get a Notice of Assessment. Anyone who owns property will have it assessed for property tax purposes.
