Personal Finance

CRA taking more time for refund

  • Last Updated:
  • Apr 15th, 2016 7:52 pm
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Deal Addict
Nov 2, 2003
1262 posts
79 upvotes
oshawa

CRA taking more time for refund

i have used netfile for several years and always got the refund in 6 days. this is the first time i notice that i am scheduled for a refund after 2 weeks. CRA is either getting lazier or busier.
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11 replies
Member
Dec 15, 2014
383 posts
560 upvotes
Vancouver, BC
junkone wrote: i have used netfile for several years and always got the refund in 6 days. this is the first time i notice that i am scheduled for a refund after 2 weeks. CRA is either getting lazier or busier.
Or you are getting audited :twisted:
Member
Nov 1, 2010
397 posts
56 upvotes
I've seen no change even if my filing was a bit more complicated this year.
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Oct 24, 2005
4850 posts
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Burlington
At least you're getting a refund while some of us have to pay back to the tax man :mad:
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Jan 16, 2016
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Hamilton, ON
junkone wrote: i have used netfile for several years and always got the refund in 6 days. this is the first time i notice that i am scheduled for a refund after 2 weeks. CRA is either getting lazier or busier.
Ideally you shouldn't be getting a refund at all ... Modify your T1 from your job to modify how much tax is deducted from your paycheck. Keep your money, don't get it back the year after.
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Jan 4, 2009
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Tha_Doggg wrote: At least you're getting a refund while some of us have to pay back to the tax man :mad:
In spite of how you many feel, you don't want to get a refund in April. It's just an indication that you had too much tax deducted at source throughout the previous tax year.
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Jun 12, 2008
1222 posts
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Ripley
10 business days for everyone in this house. Just like their website says.
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Apr 9, 2016
208 posts
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junkone wrote: i have used netfile for several years and always got the refund in 6 days. this is the first time i notice that i am scheduled for a refund after 2 weeks. CRA is either getting lazier or busier.
They have a specific 1-2 days each week when they dump in ALL the deposits for that week.

So if you miss that day, it goes into the next week. I know 4-5 people who did a Netfile last week on different days, ALL of them got it direct deposited on Thursday yesterday . so for one guy its just 4-5 days and for others its 10 days, as they all came in the Thursday DD batch date.
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Jul 17, 2008
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Tha_Doggg wrote: At least you're getting a refund while some of us have to pay back to the tax man :mad:
Sauerkraut wrote: In spite of how you many feel, you don't want to get a refund in April. It's just an indication that you had too much tax deducted at source throughout the previous tax year.
This. Many of you don't realise that if you get a refund, the government got your money tax free for up to a year! (over what you "owe" them in this awesome society)

If you owe money at the end, its the other way around, you got money that you owed the goverment for up to one year, tax free.

Next year I am expecting a credit of about $10k that I have to pay. Which is awesome! Unfortunately that would only be for next year, it's not possible to get this going for several years in a row.

So getting a refund = bad, you just lended government more of your money for free for up to a year. Having to pay them = good. Just do basic math and accountability and make sure you have the amount owed ready and prepared for next year's.
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Jan 4, 2009
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Messerschmitt wrote: Next year I am expecting a credit of about $10k that I have to pay. Which is awesome! Unfortunately that would only be for next year, it's not possible to get this going for several years in a row.
Be careful with amounts this large. It may be ok as a one-off, however the CRA doesn't look kindly to this sort of trend. They'll force you to pay quarterly installments if it becomes a repeated habit.
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Jul 17, 2008
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Sauerkraut wrote: Be careful with amounts this large. It may be ok as a one-off, however the CRA doesn't look kindly to this sort of trend. They'll force you to pay quarterly installments if it becomes a repeated habit.
I already planned for it, so by end of April 2017 I will be paying off everything I owe. Don't need to sign up for any kind of installments.

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