How to Pay Canadian Taxes Online
The Canada Revenue Agency (CRA) allows those who have an outstanding tax balance owing or those who wish to pay their taxes for the current tax year in installments to do so online using the My Payment service. You can use the My Payment service to withdraw funds from your regular online banking account and transfer them directly to the CRA. The CRA recognizes your online payments as being made the same business day but you will not see the payment reflected in your CRA account for two business days.
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Instructions
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Register for online banking. You need to be registered for online banking with Bank of Montreal (BMO), Scotiabank, Royal Bank (RBC) or TD Canada Trust to use the My Payment service.
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Go to the Canada Revenue Agency website (See Resources).
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Click on "My Payment" under Online Services. This brings you to the My Payment page.
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Click on "Start My Payment."
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Select the type of tax that you need to pay. If you are making a payment on a balance due for your regular income tax, select "Individual Income Tax." From this page, you can also choose to make payments on your business taxes, such as Goods and Services Tax (GST), corporate income tax or excise taxes.
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Choose your payment allocation. When paying your individual income tax, you have three choices: Payment on filing, which allows you to pay a balance owing on a tax return that you have just filed; Installment, which allows you to make an installment for your current year's taxes; or Balance Owing/Arrears, which allows you to pay a previous balance owing from unpaid back taxes or reassessment.
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Enter your payment amount. You must enter the dollar amount of your payment as well as your social insurance number.
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Choose the bank with which you have an account. The website will ask you to select your financial institution from the four that are eligible for My Payment services.
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Log in to your bank's online banking page. The website will automatically direct you to your bank's online banking page. Use your regular online banking user ID and password to log in.
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Choose the account from which you want to pay.
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Confirm the payment. Once you have confirmed the payment, you will be automatically directed back to the CRA website.
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Print your receipt.
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References
Resources
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