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March 9, 2024
Question

Does anyone know why my refund i received on my bank account is less than what i should have received based on what the tax return said?

  • March 9, 2024
  • 1 reply
  • 0 views
My bank deposit was $300 less than what I was supposed to get

    1 reply

    TurboTaxSusan
    March 9, 2024

    While it can be frustrating, it’s common for the Canada Revenue Agency (CRA) to make a tax return assessment that is different from yours. 

     

    The reasons for these discrepancies may vary, and can range from very simple (typo or data entry error, forgotten slip, receipt, amount, etc) to complex (carry-forward amounts not included, accounting errors, etc).

     

    In most cases, the CRA will explain how they calculated your tax refund or balance owing, and you can find this information on your Notice of Assessment (NOA), under the heading Explanation of changes and other important information. Compare the line numbers on your NOA and their corresponding values with those entered into TurboTax.