Personal Finance

Hello, question here about my 2019 income tax and RRSP

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Jun 24, 2015
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Hello, question here about my 2019 income tax and RRSP

Hello, question here about my 2019 income tax and RRSP. I submitted it 2 months ago thru my "Tax Guy" who is a professional chartered accountant. It Finally showed Assessed 2 days ago on the CRA web site. but my NOA is not yet available. I JUST realized the Tax Guy made a mistake and did not put the right amount for my RRSP Contribution, I have 2 sets of slips, one for 2019 and one for First 60 Days 2020, I had only one slip at the time but had the amount of the other slip the bank gave me and wrote it down and put it on the letter and gave it to my tax guy, and told him I will get the second slip its in the mail, and he still forgot to include it, I am doing HBP repayment so that amount reflects my yearly hbp repayment amount so this is why i wanted to include it, can i change it before the NOA or should i do it after?

same thing with last year he did not alocate my rrsp towards my hbp repayment as i had instructed and i found out, should i change last year (2018) then my 2019 so as my NOA reflects the true amount?
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Deal Guru
Jan 19, 2017
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GoodFellaz wrote: Hello, question here about my 2019 income tax and RRSP. I submitted it 2 months ago thru my "Tax Guy" who is a professional chartered accountant. It Finally showed Assessed 2 days ago on the CRA web site. but my NOA is not yet available. I JUST realized the Tax Guy made a mistake and did not put the right amount for my RRSP Contribution, I have 2 sets of slips, one for 2019 and one for First 60 Days 2020, I had only one slip at the time but had the amount of the other slip the bank gave me and wrote it down and put it on the letter and gave it to my tax guy, and told him I will get the second slip its in the mail, and he still forgot to include it, I am doing HBP repayment so that amount reflects my yearly hbp repayment amount so this is why i wanted to include it, can i change it before the NOA or should i do it after?

same thing with last year he did not alocate my rrsp towards my hbp repayment as i had instructed and i found out, should i change last year (2018) then my 2019 so as my NOA reflects the true amount?
Did you talk to your accountant about the ‘error’? If he made the mistake, then he should fix it. Are you sure you are reading the NOA correctly? I am assuming you know that the HBP repayment won’t give you a deduction and refund if that is what you are thinking about.
You have to wait to make change after the NOA is issued.
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GoodFellaz wrote: Hello, question here about my 2019 income tax and RRSP. I submitted it 2 months ago thru my "Tax Guy" who is a professional chartered accountant. It Finally showed Assessed 2 days ago on the CRA web site. but my NOA is not yet available. I JUST realized the Tax Guy made a mistake and did not put the right amount for my RRSP Contribution, I have 2 sets of slips, one for 2019 and one for First 60 Days 2020, I had only one slip at the time but had the amount of the other slip the bank gave me and wrote it down and put it on the letter and gave it to my tax guy, and told him I will get the second slip its in the mail, and he still forgot to include it, I am doing HBP repayment so that amount reflects my yearly hbp repayment amount so this is why i wanted to include it, can i change it before the NOA or should i do it after?

same thing with last year he did not alocate my rrsp towards my hbp repayment as i had instructed and i found out, should i change last year (2018) then my 2019 so as my NOA reflects the true amount?
my "Tax Guy" who is a professional chartered accountant.

May be he is not good or "Professional" I guess.
"Laws for thee but not for me!" I will keep on jet-setting around the world. Spend as much as I can and enjoy vacations Free at Friends estate. Do as I do not as I say. I used to pay for my vacation until I met my hero.
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I know I need to change something. I'm changing line 245 from old value to the New value, correct? but I also need to adjust line 246 how much my HBP repayment will be right? and if line 206 is less than line 245 I must also change line 208 correct? Are these the only 3 lines I must change? right?
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GoodFellaz wrote: Hello, question here about my 2019 income tax and RRSP. I submitted it 2 months ago thru my "Tax Guy" who is a professional chartered accountant. It Finally showed Assessed 2 days ago on the CRA web site. but my NOA is not yet available. I JUST realized the Tax Guy made a mistake and did not put the right amount for my RRSP Contribution, I have 2 sets of slips, one for 2019 and one for First 60 Days 2020, I had only one slip at the time but had the amount of the other slip the bank gave me and wrote it down and put it on the letter and gave it to my tax guy, and told him I will get the second slip its in the mail, and he still forgot to include it, I am doing HBP repayment so that amount reflects my yearly hbp repayment amount so this is why i wanted to include it, can i change it before the NOA or should i do it after?

same thing with last year he did not alocate my rrsp towards my hbp repayment as i had instructed and i found out, should i change last year (2018) then my 2019 so as my NOA reflects the true amount?
Talk to your tax guy. He should have the answer. You paid the tax guy, he will make the change. Did you discuss your tax situation before he filed?
...
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Mar 10, 2018
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GoodFellaz wrote: I know I need to change something. I'm changing line 245 from old value to the New value, correct? but I also need to adjust line 246 how much my HBP repayment will be right? and if line 206 is less than line 245 I must also change line 208 correct? Are these the only 3 lines I must change? right?
to be honest may be he really is good but just made mistake. or just slipped his mind. This Covid-19 period has made many people go crazy.
But from my experience when I did my taxes I wrote down everything on paper and checked if the account has done it or not.
We are paying them so make sure. Its like we are doing most of their work and paying them to enter in tax software.
I hope the accountant takes care of this quickly. Good luck.
"Laws for thee but not for me!" I will keep on jet-setting around the world. Spend as much as I can and enjoy vacations Free at Friends estate. Do as I do not as I say. I used to pay for my vacation until I met my hero.
Deal Guru
Jan 19, 2017
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GoodFellaz wrote: I know I need to change something. I'm changing line 245 from old value to the New value, correct? but I also need to adjust line 246 how much my HBP repayment will be right? and if line 206 is less than line 245 I must also change line 208 correct? Are these the only 3 lines I must change? right?
If it says NOA is not available. Where do you see that there is no HBP repayment?
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the hbp repayment is based on LAST YEAR's NOA. this years NOA not available yet means they have not finished assessing it
Supermarket worker at Fortino's
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i had a whole 600 dollar contribution he failed to include, oh well, changing it in a week i figured out how to. hope im not doing any mistakes
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GoodFellaz wrote: i had a whole 600 dollar contribution he failed to include, oh well, changing it in a week i figured out how to. hope im not doing any mistakes
What part of "get the accountant to fix it" are you missing? You've already paid to have the return filed and if it truly is the accountant's mistake they'll fix it for free. Further, the accountant can also review the NOAs to ensure that it's all done correctly including your HBP repayment. It sounds like perhaps it's not the accountant's fault, though, which is why you want to fix it yourself?
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GoodFellaz wrote: the hbp repayment is based on LAST YEAR's NOA. this years NOA not available yet means they have not finished assessing it
If you didn’t repay the min. HBP amt required in 2018, your 2018 NOA would say the required amt was added to your 2018 income and you had to pay tax. Did it say that?
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Conquistador wrote: What part of "get the accountant to fix it" are you missing? You've already paid to have the return filed and if it truly is the accountant's mistake they'll fix it for free. Further, the accountant can also review the NOAs to ensure that it's all done correctly including your HBP repayment. It sounds like perhaps it's not the accountant's fault, though, which is why you want to fix it yourself?
The part of the "get Accountant to Fix it" that i am missing is no part, but the part that YOU guys are missing out is he is really busy and won't get to it in probably 2 months, maybe 1 month if i am lucky. doing it myself is ALWAYS Faster, Hope you know accountants do not drop everything they are working on and do an adjustment for a client like that, they put you back in the end of their queue
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Yes This payment is for my minimum hbp payment,
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This sort of thing can be easy to adjust on CRA’s MyAccount, or at least it was a couple years ago when I helped my boss adjust his.

Should be pretty quick too on RepresentClient for a professional tax preparer, especially if it was info they missed.
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GoodFellaz wrote: Yes This payment is for my minimum hbp payment,
It is better to include the question that you try to answer. Otherwise nobody would know what your answer is for.
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GoodFellaz wrote: The part of the "get Accountant to Fix it" that i am missing is no part, but the part that YOU guys are missing out is he is really busy and won't get to it in probably 2 months, maybe 1 month if i am lucky. doing it myself is ALWAYS Faster, Hope you know accountants do not drop everything they are working on and do an adjustment for a client like that, they put you back in the end of their queue
That MIGHT be true if it was YOUR mistake. Not so much if it was THEIRS.

You don't really sound certain as to what the issues really are so that would also provide an opportunity for someone to steer you straight. By all means, though, please proceed as you've planned. I look forward to the next thread in three or four or five months, after CRA gets around to re-assessing, about what you need to do then to fix up your next 'boo boo'.
Deal Guru
Jan 19, 2017
10058 posts
6150 upvotes
GoodFellaz wrote: Hello, question here about my 2019 income tax and RRSP. I submitted it 2 months ago thru my "Tax Guy" who is a professional chartered accountant. It Finally showed Assessed 2 days ago on the CRA web site. but my NOA is not yet available. I JUST realized the Tax Guy made a mistake and did not put the right amount for my RRSP Contribution, I have 2 sets of slips, one for 2019 and one for First 60 Days 2020, I had only one slip at the time but had the amount of the other slip the bank gave me and wrote it down and put it on the letter and gave it to my tax guy, and told him I will get the second slip its in the mail, and he still forgot to include it, I am doing HBP repayment so that amount reflects my yearly hbp repayment amount so this is why i wanted to include it, can i change it before the NOA or should i do it after?

same thing with last year he did not alocate my rrsp towards my hbp repayment as i had instructed and i found out, should i change last year (2018) then my 2019 so as my NOA reflects the true amount?
Did he give you a copy of your tax return after he filed?
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yes the tax return did not have the schedule 7 part, so i was not aware what he recorded until i saw it on CRA my account last week, this is what im telling you, the CRA changed all the tax forms around and I DID explain my question, rrsp contribution counts as my hbp repayment, even if it didn't it does not matter im still missing out
Supermarket worker at Fortino's
I'm Not a Wise Guy but more of a Good Fella~!
Drive an Escalade

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