Understanding the T2 Corporation notice of assessment

Image description

This image is of the revised notice of assessment that the Canada Revenue Agency will start sending out in October 2016. It includes four notes explaining how the notice’s contact information, account details, key information, and account summary are simplified and easy to understand. The four notes read:

• “1. Contact Information – Appears in the top left corner”
• “2. Statement Date Information – Organized so you can easily identify your notice details”
• “3. Action You Need to Take – Provides your information and if actions are required”
• “4. Your Current Balance – Provides you with a status of your current-year balance”

A Corporation notice of assessment was issued to you because you filed a tax return for a corporation, or a return was filed for you.

The Corporation notice of assessment shows that your return was assessed, and the date it was assessed. It also shows whether you have a refund, an amount owing or a nil balance.

Sections of the T2 notice explained

Follow these links to see more information about specific sections of your notice.

Your notice contains your:

• Account summary
• Tax assessment summary
• Explanation of changes and other important information

What to do if your notice:

• indicates you need to make a payment
• For more information about T2 returns, see Corporation income tax return.

Date modified:

2016-10-25