Tax advice – Business: Pay your taxes online directly through your financial institution or directly to the CRA

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OTTAWA, ON, October 13, 2021 / CNW / – Business owners, the Canada Revenue Agency (CRA) understands your time is precious. We have online options to help you save time when paying your taxes.

Here’s how you can pay your business taxes online through your financial institution or directly to the CRA.

Pay by online bank

You can pay your business taxes to the CRA through the online banking app or your financial institution‘s website. Most financial institutions also allow you to set up a payment to be made at a later date.

How? ‘Or’ What pay your business taxes online:

  • Log in to your financial institution’s online business banking service.
  • Under “Add beneficiary”, look for an option such as:
    • Federal – Corporate Tax Payments – TXINS
    • Federal – GST / HST Payment – GST-P (GST-P)
    • Federal Payroll Deductions – Regular / Quarterly – EMPTX – (PD7A)
    • Federal Payroll Deductions – Threshold 1 – EMPTX – (PD7A)
    • Federal Payroll Deductions – Threshold 2 – EMPTX – (PD7A)
    • Federal – Canada emergency wage subsidy reimbursement
    • Federal – Canada emergency reimbursement of housing allowance
  • Enter your 15-digit business number as the CRA account number.
    Make sure the number is correct so the CRA can apply your payment correctly.

Be sure to visit the Make payments for businesses webpage for more information on paying taxes online for all types of businesses. This includes sole proprietorships, partnerships and corporations. You can find information on:

  • Make a payment to the CRA, collect and transfer payments to your accounts.
  • Remission of withholding taxes.
  • Remit (pay) GST / HST (including installment payments).
  • Company payments.

When you make a payment, the online banking app or your financial institution’s website displays the date your payment was made. It may take up to 5 business days for payments to be reflected in your CRA account. To avoid charges and interest, please ensure that you pay on time.

Pay by My payment

My payment is an electronic service that allows you to make payments directly to the CRA. You can use your Visa® Debit, Debit MasterCard® or Interac® card online from a participating financial institution. You cannot use credit cards with My payment. You can access My payment from My business account or the ARC BizApp. You can do this by clicking on the “Proceed to payment” button, then by selecting the option “Visa ® Debit, Debit MasterCard ® or Interac ® online”.

Check with your financial institution about your transaction limit and the fees they may charge for making online payments. The CRA does not charge any fees for using this service.

Payments are usually processed by the CRA within 1 to 3 business days. To avoid charges and interest, please ensure that you pay on time.

For more information, see the Pay now with My payment Web page.

Pay by pre-authorized debit

Pre-authorized debit (PAD) is a secure, self-service online payment option for businesses to pay their taxes. You set the payment amount and authorize the CRA to withdraw it from your Canadian chequing account on the date (s) you choose.

The earliest payment date you choose must be at least five business days from the date your PAD agreement was created. See federal holidays for a list of non-working days.

Companies can use the PAD via IMPTNET GST / HST pay a balance owing.

To create a PAD agreement as a company, you must register with My business account. Once logged in:

  • Select the “Proceed to payment” button. Next, select the option “Schedule one or more payments from a Canadian chequing account from 5 business days or more” to create your PAD agreement.
  • Select “Manage Pre-Authorized Debit” in the “Sales and Commercial Services” section. This will allow you to view, create, modify, cancel or ignore a payment.
  • You can also create a PAD agreement in the ARC BizApp. You can do this by selecting the “Proceed to payment” button and the “Pay later” option. Your credentials are the same as those for My Business Account.

Pay by credit or debit card, PayPal or Interac Electronic transfer

You can use a third-party service provider that offers payment by credit card, debit card, PayPal, or Interac Electronic transfer. The third-party service provider will send your payment and remittance details online to the CRA for you. Third-party service providers charge fees for their services.

Just pay and Plastic are third party service providers that you can use to make a payment:

  • Just pay accepts debit cards, credit cards and payment services. This includes Visa, Mastercard, Amex, Union Pay, PayPal and Interac Electronic transfer.
  • Plastic accepts debit cards and all brands of credit cards. This includes Visa, Mastercard and Amex.

You are responsible for ensuring that the CRA receives your payment by the payment due date. If you are using a third party service provider, you should clearly understand the terms and conditions of the services you are using.

Make sure you settle your payment well in advance of your payment due date. Delivery of payment is not immediate and is determined by the third-party service provider used.

Here’s how you can confirm that your payment has been received by the CRA:

1. Confirm your payment in My Business Account

  • Before checking if your payment has been processed, authorize:
    • 3 business days for online payments (including payments made by a third-party service provider)
    • 10 business days for payments by check or money order
  • Then connect to My business account to view your payment details under “View and pay account balance”.

2. Solve a problem with a payment

  • If your payment was not applied to your account as expected, you can:
  • To verify your identity, you will need to provide additional information, such as details of an assessed tax return.

Other ways to make a payment

If these online payment options don’t work for you, don’t worry. You have several other payment options depending on the type of payment you want to make. Visit our Make a payment for a business web page to find the best option for your situation.

Stay logged in

SOURCE Canada Revenue Agency

For further information: Media Relations, Canada Revenue Agency, 613-948-8366, [email protected]

Related links

http://www.cra-arc.gc.ca/


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