How to pay CRA Business Taxes through Online Banking

Описание: Simplified Guide to Paying Business Taxes through Online Banking

1. Log into your Online Banking for Business

Access the business section instead of personal.
Navigate to the menu and select "Pay Bills."

2. Access the Tax Payment Menu

Look for the hidden menu option called "Tax Payments and Filing."
This feature is only available on a computer, not on mobile devices.

3. Add Tax Accounts

Click on "Make a Tax Payment."
Add accounts for corporate income tax (T2 taxes), federal GST/HST returns.

4. Enter Payment Details

Input your tax account number (e.g., GST/HST number).
Choose the payment type (Balance Due or Payment Only).
Confirm the payment deadline for it to reflect on the due date.

5. Make the Payment

Select the tax payment to make.
Verify the bank account number, GST/HST number, payment amount, and date.
Submit the payment.

6. Confirmation and Record-Keeping

Receive a confirmation number.
Print a copy for your records or access it later in your banking history.
Payments usually reach CRA the next business day and may take around five business days to reflect on your CRA account.

7. Repeat the Process

If needed, repeat the same procedure for making additional payments.
This process is similar for any major bank in Canada, not just TD.

8. Conclusion

Following these steps ensures a smooth payment process for your business taxes.
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