Business and Management

The Online Services Offered by the CRA, and How They Help Businesses

An Insight into Main Services Made Available by CRA to Ease the Process of Payment of Taxes by Businesses

If you really want to make the process of paying business taxes a seamless experience then you should try the online services made available by CRA. Let us look at how you can benefit from utilizing these services.

What are the advantages of paying taxes online?

Your general accountant can make use of CRA's online system for payment of your business taxes in a safe and secure manner. Few of the important online services provided by CRA include:
  • general accountantServices for Businesses: Your general accountant will be able to do the following; make electronic payments, file a return, get information, register your business, make calculations related to payroll deductions, make online requests and order or download publications and forms.
  • Services for Tax Preparers: Tax preparers can make a payment or file a return for their business or individual clients. In addition to it, they can perform other tasks also such as submission of the business authorization request, get a subscription of any electronic mailing list, order or download publications and forms as well as perform several other tasks.
  • Services for Donors and Charities: Donors and charities can search for tax credits related to registered charitable donations, modify address for a charity and do other related tasks.

What type of taxes can be paid online?

Your general accountant will be able to pay a variety of taxes using CRA's online service. Let us go through the details here.
  • Payment of HST/GST (RT) such as payment on filing, interim, know about the amount that is owed and the balance due.
  • Payment source deductions (RP) covering regular and quarterly remittances, accelerated threshold 1 and 2 remittances, balance owing remittance, interest/penalty/arrears remittance and insurable as well as pensionable earnings review.
  • Corporation income tax payment (T2) (RC) like payment on filing an interim, know more about the amount that is owed and the balance due amount.
  • Tax payment for individuals (T1) such as taxes owed by sole proprietors. 

What are the other CRA tools that business can make use of?

Another interesting tool that your company's general accountant can make use of is the business tax reminders app provided by the CRA. This is a tool which is especially useful for small to medium-sized businesses having an annual turnover of less than twenty million and with less than five hundred employees.
The benefit of this app is that it allows you to set custom reminders as well as alerts for important due dates associated with things like payment of installments, remittances and tax returns.
You can also add important dates in this CRA app so that the system sends calendar as well as pop up reminders when taxes are due for individual/corporation income tax and  GST/ HST

The Bottom Line

As we can see, there are several benefits of paying taxes online and making use of tools made available by CRA such as the business tax reminder app. If you also want to ease the process of paying taxes then you must utilize these online services.
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