Notice of Assessment (NOA)
An NOA is issued by the federal government when a personal tax return has been completed and filed. This document provides a breakdown of the year’s income along with the balance owing or refund due. A broker/agent will typically obtain this document when processing an application using a “Stated Income” program to provide proof that there are no outstanding back taxes owing to the Canada Revenue Agency. This document may also be required in other circumstances, as determined by each lender.