Tax Tip - Looking for the fastest and easiest way to manage your business taxes online? Use our digital services! Français
OTTAWA, ON, May 17, 2023 /CNW/ - Our digital services make handling your business's tax matters faster and easier. You and your authorized employees and representatives can file, pay and access detailed information about your tax accounts. Here is information about the CRA's most used digital services, as well as information on how to find the rest.
My Business Account is a quick and simple way to view and manage your company's tax affairs. You can register using your CRA user ID and password or through our sign-in partner option. My Business Account is a secure online portal that allows you to:
- access GST/HST, payroll, corporation income taxes, excise taxes, excise duties and other levies accounts online
- receive and view your CRA mail online
- submit documents
- manage your authorized representatives
- view and pay balances
- file a GST/HST return or rebate, adjust a GST/HST return, and view outstanding returns
- transfer payments
- get answers to your questions, and more
If you report your business income on a personal income tax return, you should sign up for My Account. My Account is a secure online portal that lets you see your personal income tax and benefit information and manage your tax affairs online.
The Payroll Deductions Online Calculator (PDOC) allows you to calculate federal, provincial (except for Quebec), and territorial payroll deductions.
It can be used to:
- calculate salaries, commissions and pensions
- verify Canada Pension Plan (CPP) contributions and EI premiums
The PDOC includes step-by-step guides. These guides are designed to assist the user with the type of calculation they choose. The guides provide detailed instructions about how to use the calculator to complete the user's request.
For more information on the PDOC, go to: Help with the Payroll Deductions Online Calculator.
For information specific to payments of fees for services, go to: Calculate payroll deductions and contributions - Payments of fees for services.
The GST/HST calculator is used to find out the amount of tax that applies to sales in Canada. In five simple steps, you can calculate the GST/HST rates as well as the total amount of a sale before and after tax.
Steps:
- Go to GST/HST calculator.
- Select the province or territory in which the sale occurred.
- Insert the amount of the sale.
- Select if the amount above was before or after taxes.
- Click calculate to get the GST/HST rates.
Additionally, the provincial rates table at the bottom of the page gives an overview of the GST/HST rates across Canada starting from 2008.
The CRA offers simple, fast and secure online options for businesses to pay their taxes. There are many ways to make a payment:
- through your financial institution's online banking, mobile web app, or telephone service
- using the CRA's pre-authorized debit service offered through My Business Account and the CRA BizApp mobile web app, which lets you:
- set up payment(s) to the CRA from a chequing account on pre-set date(s)
- pay an amount due, repay overpaid amounts, or make instalment payments
- using the CRA's My Payment service, which lets you make online payments directly to the CRA (does not include credit cards). You can use this service if you have an activated debit card from a participating Canadian financial institution with one or more of the following logos: Visa® Debit, Debit MasterCard® or Interac®
- or by credit card, PayPal, or Interac e-Transfer through a third-party service provider
If you cannot pay an existing debt in full, you may be eligible for a payment agreement. Payment agreement options have been expanded to reflect current realities. The Payment Arrangement Calculator has also been added to My Account and My Business Account. This self-service tool allows you to submit a payment agreement without having to contact the CRA. If the proposed payment agreement does not meet the CRA payment policy, a CRA officer may reach out to complete an acceptable arrangement.
For more information on payment options, go to: Payments for businesses.
The CRA encourages you to file your income tax and benefit return, your T2 corporation income and GST/HST returns online.
Did you know? Filing a tax return online and signing up for direct deposit can help you get any refund you may be eligible for more quickly.
- If you are an unincorporated, self-employed individual, you can file your income tax and benefit return online using NETFILE
- If you are incorporated, you can file your T2 corporation income tax return online using T2 certified software
- If you are a GST/HST registrant, you can file your GST return using My Business Account or GST/HST NETFILE
If you have employees and are filing information returns by mail, you could face a penalty for not filing information returns over the Internet. If you file more than 50 information returns for a calendar year, you must file the returns by Internet file transfer or web forms.
Meet with a Liaison Officer: The Liaison Officer service is a free service the CRA offers to owners of small businesses and self-employed individuals to help them understand their business tax obligations. A visit from a Liaison Officer is 100% confidential; the information you choose to discuss with a Liaison Officer will not be shared with other areas of the CRA or anyone else. You can request a visit by phone or videoconference here.
Visit Canada.ca: We're improving the information on our web pages to make it easier for Canadians to find what they need online. For example, the CRA gets thousands of questions each year from businesses as they go through different changes. Our Changes to your business and Canada Revenue Agency program accounts page will give you information on what the CRA needs in many common situations, such as administrative changes, growing your business, and changes to business operations. If you are an Indigenous individual, you can learn more about filing your tax and benefit returns at Taxes and benefits for Indigenous peoples. This page outlines options to make it easier to file a tax return and get your benefits and credits.
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Canada Revenue Agency
613-948-8366
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SOURCE Canada Revenue Agency
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