When the tax man comes back for more

Your tax return can be reviewed and reassessed months or even years after it's filed

Matthew Elder 8 August, 2017 | 5:00PM

Filing your 2016 income tax return is by now a distant memory. But hopefully it's not on the mind of the tax man. Even though you are certain your return was an accurate representation of your taxable income, and contained no contentious claims for credits or deductions, it is possible it could be selected for random review by the Canada Revenue Agency.

It's unlikely, but possible -- and we're not trying to ruin your summer! During the assessment process that follows the filing of a return, most returns are reviewed by the CRA's computers with no manual intervention.

However, some returns may be randomly flagged for future review based on typical areas of concern based on the nature of your employment or investment activities. Examples are the self-employed (usually there is no T4 information to cross reference what is reported on the return) or those employed in the construction, retail or restaurant industries, which often are cash-based.

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Matthew Elder

Matthew Elder