What is a Notice of Assessment (NOA)?
A Notice of Assessment or NOA, is like a receipt for filing your tax return. It is a statement from the Canada Revenue Agency notifying you of the amount of tax you owe, if any, the amount of tax already paid, if any, tax credits received and contributions to a Registered Retirement Savings Plan. The lender will require all the pages of your NOA. It will include your full name and last name, SIN number, tax year, and tax centre clearly indicated.
Why do Lenders require an NOA?
They require the NOA to confirm your income (shown on line 150 of your return) or to confirm you have no outstanding taxes.
Tax arrears could be placed on the title of your home and take priority over any mortgage financing in a sale of the property. The lender will require the tax arrears to be paid before advancing mortgage funds.
Where can I find my NOA?
You can obtain a copy by contacting the Canada Revenue Agency. You can contact them at 1-800-959-8281.
OR you can log into your account with CRA: www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html
Click on the “Continue to Sign-In Partner” button
Scotiabank – NOA Requirements
If you are providing us with the 2015 NOA as a print out from the customer’s My CRA Account website (rather than the mailed copy), then it has to look like the one below in order for us to accept it. The document heading must read as follows:
- 2015 Assessment
- Date printed
- Customer’s Name
- Customer’s Address
- City, Prov, Postal Code
- Tax year
- Taxing province
- Filing date
- Date of Assessment
- Social insurance number
- Province of residence
- Date of birth
- Marital status
Customers can obtain the updated version from their ‘CRA My Account’ by selecting ‘Proof of Income Statement’. They can print by selecting the 3rd option from the bottom (Proof of income statement (Option ‘C’ print) on the left of the page to print their tax assessment/reassessment with all the required personal information.