How to make a tax payment to the CRA

How to make a corporate tax and HST payment to the CRA

A question that we often get asked by our business clients in Vaughan and the Greater Toronto Area is how to make a corporate tax payment to the CRA. The easiest way to pay your corporate taxes to the CRA is done through your online banking.

Paying your Corporate Tax balance

- Sign in to your financial institution's online banking service.

- In the "Bill Payment" window, select "Pay Business Taxes" (different banks might have a slightly different name for this section)

- Add payee "Federal - Corporation tax Payments - TXINS”

- To pay your year-end balance:

For the box "period ending," put the year-end for which the corporate tax return was filed

For the box "payment on filing," put the amount that you want to pay.

- To pay instalments:

For the box "period ending," put the current fiscal year-end 

For the box "interim," put the amount that you want to pay.

You can schedule postdated payments

Paying HST balance

- Sign in to your financial institution's online banking service.

- In Bill Payment window select "Pay Business Taxes" (different banks might have slightly different name for this section)

- Add payee "Federal - GST/HST Payment -- GST-P -- (GST-P)"

- Put applicable Period Start Date, End Date and Due Date

- To pay balance owing - use box "Amount Owing"

- To pay instalments - use box "Instalment payment"

You can schedule postdated payments

Paying Personal Tax

- Sign in to your financial institution's online banking service.

- Go to Bill Payment window.

- To pay current year tax select CRA PERSONAL INCOME TAX - 2017 TAX OWING ON FILING, your account number is your SIN

- To pay instalments select CRA (REVENUE)-TAX INSTALMENTS, your account number is your SIN

You can schedule postdated payments

For professional help please contact us.

Vaughan Office

1950 Highway 7, Building C, Unit 1B, Vaughan, ON L4K 3P2

Tel. (416) 739 - 1899 or (905) 780-1578

email: ca4gta@gmail.com

Collingwood Office

46 Hughes Street, Collingwood, ON L9Y 0W7

Tel. (705)812-5065

Our accounting firm conveniently serves clients in Toronto, Richmond Hill, Vaughan, Markham, Newmarket, Aurora, North York Mississauga and the Collingwood area.

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