I noticed a discrepancy when starting to do my 2014 Tax Return. My 'Refund' from 2013 & my Child Tax Benefit don't match what I actually received/am receiving?

My 2013 Refund as stated on Turbo Tax was $246.63 more than what I actually received back from Revenue Canada, plus the Child Tax Benefit I receive is about $10 less than what Turbo Tax estimated...? Why is this?  Do I need to contact Revenue Canada or someone from Turbo Tax? I did not owe for back taxes or for MSP.

Answer

The difference is due to the CRA's assessment (or reassessment) of your return as compared to what you had prepared.  You need to ensure that the carryforward amounts match that from the CRA's notice of assessment.

 

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