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New Member

Interest on reassessment difference?

I missed a T5 last year and will be submitting a tax adjustment for it.  This will result in a reduction in the refund I received last year.  Once reassessed by CRA, will they charge interest on the difference since last year?  I have calculated the difference to be approx $25.

Thanks

Al

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New Member

Interest on reassessment difference?

Yes.  For info on how CRA charges interest on taxes please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/ntrst/menu-eng.html

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1 Reply
New Member

Interest on reassessment difference?

Yes.  For info on how CRA charges interest on taxes please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/ntrst/menu-eng.html

View solution in original post