T-SLIP TURNAROUND - E-filed slips - generally 48 hours - Paper filed slips - around 90 days

On February 27, 2017, a CPA Canada blog (FAQs: T-slip turnaround for auto-fill my return) address how quickly T-slips filed with CRA are reflected in the My Account, Represent a Client, and auto-fill my return services, with the following information provided:

  • With 95% of slips being filed electronically, most slips are processed within 48 hours of receipt. Processing delays can occur for quality reasons, such as invalid account numbers, duplicate slips, and other errors.
  • Paper-filed slips, less than 5%, have a general standard of 90 days to process. CRA prioritizes slips which have the greatest impact, such as T3, T4 and T5 slips.
  • Amended slips vary in processing times. Electronically filed amended T3 and T5 slips are usually processed within 48 hours. The service standard for amended T4 slips filed electronically is 60 days. No standard was provided for paper-filed amended slips.

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 428

 

CRA PROJECTS AND INITIATIVES – AN UPDATE

CRA and CPA Canada have recently released a number of questions and answers on the Liaison Officer Initiative (LOI) noting that:

  • The LOI is voluntary and there is no link between not wishing to participate and future compliance/enforcement actions.
  • Taxpayers who do not fix errors identified in the LOI could still be exposed as they may be evaluated through CRA’s separate risk assessment program as high risk.
  • The LOI was originally a pilot project from 2014 to 2016 and was only offered to select industry groups across much of Canada. The program is now permanent and will be expanded to include new businesses in any sector.
  • A LOI visit does not constitute an enforcement action and, therefore, would not preclude a Voluntary Disclosure by a taxpayer.

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 422