You can now pay your business taxes online
The CRA has made it easier for businesses to pay their taxes through their online payment methods. Here are the available online payment methods for you:
- Online banking allows you to pay your taxes the same way you pay your phone or hydro bill. You will only need to sign in to your financial institution’s online banking service, add payee (look for CRA (revenue)-(2013)-tax owing, CRA (revenue)-past tax owed, CRA (revenue)-tax instalment or a similar payees). Just be sure to enter your account number (SIN or Business Number) correctly to avoid lost or misapplied payments.
- Debit Card – Interac Online – You can use the CRA’s My Payment service to pay with your debit card.
- Credit Card – The CRA does not accept the use of credit cards as payment for taxes but you may be able to use a third party service provider that offers additional payment methods such as credit cards. Please take note that when using third party service providers, there may be delays to your payments to the CRA so make sure to make payment arrangements early to avoid late fees.
- Pre-authorized debit. You can authorize the CRA to withdraw a pre-determined payment amount from your bank account on one or more dates.
- Third Party Service Provider – Third Party Service Providers can send your business or individual payments and remittance details online to the CRA for you. Here is a list of third party service providers who can send your payments for you for a fee:
o ADP (source deductions)
o Ceridian (source deductions)
o Nethris (source deductions)
o PaymentEvolution (source deductions)
o Paysavvy (source deductions)
o Plastiq (T2 Corporation and T1 Individual)
o TelPay (source deductions, T2 corporation, and GST/HST)
o Wave Payroll (source deductions)
If your payment was not applied to your account as expected, you can use MY BUSINESS ACCOUNT or REPRESENT A CLIENT to transfer payments within your various accounts. You can also cal 1-800-959-5525 for help.
Source: CRA website, www.cra.gc.ca