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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
October 29, 2019
6:58 PM
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After you file
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
October 29, 2019
6:59 PM