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Updated almost 5 years ago,
How do lenders verify tax returns in Canada?
I always wondered how lenders verify tax returns in Canada. In the Usa, lenders can make you fill up a form that will allow them to pull your tax returns themselves, but such practise doesn’t happen in Canada.
Lenders in Canada can verify your bank statements of the last 3 months, so they can see if you are making up fake pay stubs.
They can also call your employer to verify your information (start date, salary, etc...), not to mention they can check your credit for every debt you have.
However, has anyone have any idea how they verify tax returns?
To my knowledge they can’t because CRA doesn’t share any information with them, although it may change in the future