Are you leaving money on the table? Thousands of Canadian taxpayers overlook valuable credits, uncashed cheques, and important tax information hidden in their CRA My Account portal—and Albertans could be missing out on thousands of dollars.
The Canada Revenue Agency's online My Account service is far more than just a place to file your taxes or check a refund status. It's a comprehensive hub that tracks your financial relationship with the federal government, and many Canadians simply aren't taking full advantage of it.
If you haven't logged into your CRA My Account recently, you could be missing critical information. Here are five key areas every taxpayer should review right now.
1. Uncashed Cheques and Outstanding Refunds
The CRA frequently issues cheques for tax refunds, benefit payments, and credits. If you've moved, changed your address, or simply overlooked a mailing, you could have an uncashed cheque sitting in the system. Your My Account portal displays all issued payments and their status—so you can confirm whether yours arrived and take action if it didn't.
2. Tax Credits You Might Not Have Claimed
Federal and provincial tax credits can add up quickly, but only if you actually claim them. From Canada Worker Benefit to caregiver amounts, many working Albertans leave thousands unclaimed simply because they don't realize they qualify. Your My Account shows which credits you've applied for and which ones you might have missed.
3. Benefit Eligibility and Payment Status
Whether you receive Canada Child Benefit, Old Age Security, or other federal benefits, your My Account tracks payment dates, amounts, and any changes to your eligibility. Staying on top of this information ensures you're receiving everything you're entitled to and can spot errors before they cost you money.
4. Your Notice of Assessment Details
Your Notice of Assessment (NOA) contains crucial tax information used for everything from mortgage applications to student loan calculations. Your My Account provides instant access to your current and previous NOAs, saving you from having to request them by mail—which can take weeks.
5. Address Changes and Account Security
The CRA mails important tax documents to your registered address. If you've moved and haven't updated your address with the CRA, critical correspondence could be going to the wrong place. Use My Account to verify your current address and update it immediately if needed. Also review your account security settings to ensure no one else has access.
How to Get Started
Logging into CRA My Account requires a user ID and password. If you don't have access yet, you can register through the Government of Canada's online login portal. Once inside, spend 15 minutes reviewing each of the five areas above—it could literally uncover hundreds or thousands of dollars in missing money or unclaimed benefits.
For Calgary and Alberta residents managing their personal finances, staying organized with tax documents and CRA information is essential. Consider bookmarking your My Account and checking it at least twice annually—once before tax season and again after filing.
This article is based on reporting from MoneySense and insights from certified financial planner Jason Heath. For comprehensive personal tax planning and CRA guidance, consult a qualified tax professional or financial advisor in your province.