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CRA Wiz and Fair Lending Wiz 7.x Consumer File Structure Specs (Updated 6/3/2021) Field # 1 2 3Field Name Applause Appellate LoanTypeDescription Loan/Application Number Application Date Type of Mandate
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How to fill out cra wiz and fair

01
Gather all necessary information and documents such as identification, income statements, and expenses.
02
Access the CRA website and login to your account.
03
Click on the 'WIZ and FAIR' option and begin filling out the required fields.
04
Review and double-check all information before submitting the form.
05
Submit the completed form and wait for confirmation from the CRA.

Who needs cra wiz and fair?

01
Individuals who have income and expenses that need to be reported to the CRA.
02
People who are required to file taxes in Canada.
03
Anyone who wants to ensure they are complying with federal tax laws.
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CRA Wiz and FAIR stands for Compliance Risk Assessment Wizard and Fair Assessment of Internal Revenue. It is a tool used by the Canada Revenue Agency to assess compliance risk of taxpayers.
Certain taxpayers selected by the Canada Revenue Agency are required to file CRA Wiz and FAIR.
Taxpayers selected to file CRA Wiz and FAIR must follow the instructions provided by the Canada Revenue Agency to properly fill out the assessment tool.
The purpose of CRA Wiz and FAIR is to assess the compliance risk of taxpayers and ensure they are meeting their tax obligations.
Taxpayers must report information related to their tax activities, financial transactions, and compliance history on CRA Wiz and FAIR.
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