MyCRA is a convenient way to access and track your personal tax information. Once you’re signed up for it, you can log in and view information such as your RRSP contribution room, making it easier for you to work with your advisor on an investment strategy. This also helps you track how much room you have, ensuring you don’t inadvertently over-contribute to either your TFSA or RRSP.
Another feature included on the MyCRA service is the opportunity to view any uncashed cheques you have received from the government. This ensures you are not inadvertently leaving money on the table.
If your personal information has changed; for instance, if your marital status changes or you have recently moved, you are able to update your status in your MyCRA profile. You can also modify your direct deposit accounts.
Learn more about MyCRA and how to get registered by visiting the MyCRA FAQ on the Canada Revenue Agency website.
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