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How Long Does the CRA Take to Deposit Refunds?

For Canadians who pay taxes, receiving a tax refund from the Canada Revenue Agency (CRA) is a gratifying process. But the burning question on everyone's mind is, how long does the CRA take to deposit refunds? Rest assured, we've got you covered."> Let's delve into this issue, offering you three main options through which you can track your refund - CRA's official website, its mobile app, and the call centre. It's time to dispel the mystery!

Canada Revenue Agency Website

The easiest and most straightforward way to check your refund status is through the CRA website. The CRA usually takes anywhere from 2 weeks to 16 weeks to process a tax return and issue a refund, depending upon the method of filing and the time of year.

You can log in to My Account on the CRA website to track the status of your refund. After logging in, navigate to the "Tax Returns" section. Here, you'll find the "Status of Tax Return" option. Clicking this will present you with detailed information about the progress and estimated deposit time for your refund.

MyCRA Mobile App

Besides the CRA website, another convenient option is the MyCRA mobile app available on both Android and iOS platforms. This app is essentially a portal to your CRA account, offering you all the information you'd typically have access to on their website.

After downloading the app and logging in to your account, tap on the "Tax Return Status" button. You'll be able to see the date your return was assessed and the amount of your expected refund. Generally, once your return has been assessed, it takes roughly 8-10 working days for the refund to be deposited into your account.

Contacting CRA Call Centre

Finally, if you're not tech-savvy or prefer direct human interaction, you can contact the CRA call centre for information about your refund.

Before you call, make sure you have all your necessary identification handy, including your social insurance number, full name, date of birth, and your complete address. Dial the CRA's toll-free number at 1-800-959-8281. After you have answered the security questions, you can ask about the status of your tax refund.

In conclusion, note that all refunds are subject to review and may take longer if selected for extra scrutiny. But generally, with electronic filing and direct deposit options, the CRA aims to process refunds as quickly and efficiently as possible. Always make sure to file your taxes on time, provide your updated bank account information, and regularly check your account status to expedite the process.