I have done it before, and there was no issues before. I deposited $20000 CAD in my account in single shot. You still want me to try it.
What you are talking about Deposits is information for Direct deposit. Whatever refund you are getting will be directly credited to your bank account as CRA no more issues cheque's as they have gone paperless. You must have provide this information (either cancelled Cheque or direct deposit from bank) to your tax filer, and he provide it to CRA or either way you can added it by your self from MY CRA account.
Now let me explain whole thing in detail:
CRA account is just to track all you returns, for NOA for all previous years, RRSP, Etc. Most of the people has to provide Direct deposit information as most of them will receive some kind of refund i.e. Sales tax credit, Energy and property tax credit ,etc. In case of audit, you can also submit documents requested thorough my CRA account which is lot quicker and time efficient.
Now let take one situation, for example A person name XYZ told his employer that he don't want to pay taxes for now, he will pay it later when files his tax return ( CPP & EI still gets deducted). He filed his tax return and didn't pay his taxes even after CRA issued him warning. Now, what will happen is CRA will freeze his bank account, and with draw all the money he deposits until all his dues are paid or they will adjust it towards its refund.
CRA has nothing to do with what ever amount of deposits you make in your personal account, they only interfere with your personal bank account when you don't pay your taxes on time.
One of the case of our client: Now we had a client who brought $1.6m when he came to Canada, he filed his tax return for 2 years. He also opened up a company which made good profit & also did some large investments. After tracing his account for 3 years. They audited him and asked for where he got money to make that much investment, they asked for personal bank statements and questioned him where he got his money from as it was very large deposit. He told that he brought it from back home when he landed, and CRA did cross verified with Immigration whether he declared that money or not.
But, there is no such thing as you deposit large amount in your personal bank account and it reflect on My CRA account. There is a privacy issue. They just cant access your information or neither can bank transmit it to CRA without your consent. You can sue CRA or bank for that.
TFSA and RRSP (only if you withdraw, T4/T4A/T5 slips, tuition fee tax credits, etc are all part of your revenue and based on that they decided how much tax you will have to pay. All slips you send is also sent by issuer of that slip.
Hope I made my point clear this time.
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