How CRA applies your refund

If your total payable on line 435 of your return is less than your total credits (line 482), the difference is your refund on line 484. Generally, if the difference is $2 or less for 2011, you will not receive a refund.

Although you may be entitled to a refund for 2011, we may keep some or all of it to:

• apply against any amount you owe us or are about to owe us;
• satisfy a garnishment order under the Family Orders and Agreements Enforcement Assistance Act; or
• apply against certain other outstanding federal, provincial, or territorial government debts, such as student loans, Employment Insurance and social assistance benefit overpayments, immigration loans, and training allowance overpayments.

Can I transfer my refund?

If you pay your taxes by instalments, you can attach a note to your paper return to ask us to transfer your refund to your instalment account for 2012. We will transfer your full refund and consider such a payment to have been received on the date that we assess your return.

Your refund cannot be transferred to pay another person's balance owing.

When will we pay interest?

We will pay you compound daily interest on your tax refund for 2011. The calculation will start on whichever of the following three dates is latest:

• May 31, 2012;
  
• the 31st day after you file your return; or
  
• the day after you overpaid your taxes.