Businesses, are you ready for your CRA mail to go online
Starting in spring 2025, the Canada Revenue Agency (CRA) will transition to online mail as the default method of delivering most business correspondence. This means you’ll start receiving most of your business notices and other correspondence through the CRA’s secure online portal, My Business Account, instead of by mail.
Did you know that there are digital services that can make it faster and easier for you to meet the tax obligations for your business?
Hi, I’m Charlie! Charlie the chatbot. You can find me on the Canada.ca/CRA webpage where I can answer questions about your business and other tax-related matters. From January to June 2024, I was asked just over 1,100,000 questions in English and 160,000 questions in French. As we head into Small Business Week 2024, I am here to give you some information about business taxes based on questions that I’ve received from others.
October is Cyber Month: Here’s how the Canada Revenue Agency protects your information
Every October, Cyber Month highlights the importance of safeguarding personal information from ever-evolving cyber security threats.
The security of taxpayer information is of the utmost importance for the Canada Revenue Agency (CRA) and we are continually enhancing our security measures to help prevent unauthorized access to taxpayers’ information.
The deadline for self-employed individuals to file their 2023 income tax and benefit return is approaching
The Canada Revenue Agency (CRA) is here to support you and your business in meeting your tax obligations.
If you are a self-employed individual, or your spouse or common-law partner is self-employed, you have until June 15, 2024, to file your 2023 income tax and benefit return. Since June 15, 2024 falls on a Saturday, you will be considered to have filed on time if we receive your return on or before June 17, 2024.
You’ve got questions and we’ve got answers! Here are answers to seven of the top business tax information questions
Question 1: What are some of the 2024 tax changes that could affect my business?
Last year, there were many announcements for businesses that took effect as of January 1, 2024. These include:
Changes to mandatory electronic filing thresholds
Changes to electronic filing for GST/HST registrants
New reporting requirements for trusts
To help you understand these and other changes, we’ve pulled together a quick reference tax tip that covers what you need to know. Please check out the reference tax tip here: Here are the top changes this year that will affect business taxes in 2024.
Looking for the fastest and easiest way to view and manage your business taxes online? Use our digital services!
Our digital services make handling your business 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 Canada Revenue Agency’s (CRA) most used digital services, as well as information about how to access other services too.
Are you self-employed? The Canada Revenue Agency can help you understand your tax obligations
If you're self-employed, navigating your tax obligations may seem complicated. But don't worry, the Canada Revenue Agency (CRA) is here to help you! To get ready for tax-filing season, we've put together helpful tips and information for self-employed individuals.
Small Business Week is here: make sure you check out the Canada Revenue Agency’s information and resources that are tailored to the needs of entrepreneurs
This Small Business Week, October 15 to 21, the Canada Revenue Agency (CRA) is celebrating the passion and impact of Canada’s entrepreneurs, cornerstones of our neighbourhoods and communities. As you take this time to connect, learn and grow your business smarts, we are excited to share some tax information and resources that can help your business thrive. In the midst of challenges such as weather events, supply chain issues and worker shortages, we’re here to help make managing your business taxes as quick and easy as possible.
Did you know that there are business services that can make it faster and easier for you to meet your tax obligations?
Hi, I’m Charlie! Charlie the chatbot. You can find me on the Canada.ca/CRA webpage where I can answer questions about your business and other tax-related matters. From April to July 2023, I was asked just over 854,000 questions in English and 156,000 questions in French. As we head into Small Business Week 2023, I am here to give you some information about business taxes based on questions that I’ve received from others.
Businesses: Beginning January 1, 2024, if you file six or more information returns you must file them electronically to avoid penalties
Recent legislation has amended mandatory electronic filing thresholds. Beginning January 1, 2024, businesses filing six or more information returns (slips and summaries) must file electronically. This removes the clause that allowed a filer with 50 or fewer information returns to file by paper. Businesses filing five or fewer information returns can still choose to file by paper.
Examples of information returns include the T4 payroll return (renumeration paid), T5 (investment income), T3 (trust income) and T4A (pension and other income return).
The Canada Revenue Agency and the Workplace Safety and Insurance Board partner to give Ontario businesses another way to pay their WSIB premiums
Starting today, the Canada Revenue Agency (CRA) and the Workplace Safety and Insurance Board (WSIB) are giving Ontario businesses a new option to pay their WSIB premiums. Ontario businesses with a business number can now report their insurable earnings and make WSIB account payments through their CRA My Business Account. Businesses can now take advantage of this quick and secure service to easily pay their WSIB premiums using pre-authorized debit.
A reminder to review the Canada Revenue Agency (CRA) policies on taxable benefits
If you are an employer and offer taxable benefits to your employees or workers, please review the January 1, 2023, updates to taxable benefits policies on gifts, awards, long-service awards, social events, hospitality functions, and parking. A summary is provided below…
Looking for the fastest and easiest way to manage your business taxes online? Use CRA digital services!
CRA 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.
Confirm my Representative is now available for business owners
The protection of taxpayer information is of the utmost importance for the Canada Revenue Agency (CRA). This is why the CRA has stringent and ongoing measures to analyze, identify and mitigate potential threats to sensitive taxpayer information.
As a response to the need for added security measures, the CRA implemented the Confirm my representative service in October 2021. It is a two-step verification process that allows business owners to easily and securely control who has access and what level of access their representative has to their personal and business tax information.
Want to avoid delays at tax time? Use our digital services!
No one likes last-minute delays or waiting on the phone at tax time. You can avoid this by preparing early and using our digital services. You’ll be able to update your personal information and view your tax and benefit information ahead of time.
Filing and payment deadline:
You will be able to file your 2022 income tax and benefit return electronically starting on February 20, 2023. The deadline for most Canadians to file this return is April 30, 2023. Since April 30, 2023, falls on a Sunday, your return will be considered filed on time if the Canada Revenue Agency (CRA) receives it, or it is postmarked, on or before May 1, 2023.
Small Business Week 2022: the CRA is here year-round to help small businesses with their unique needs
During Small Business Week 2022, the Canada Revenue Agency (CRA) is celebrating small businesses and recognizing their contributions to the growth of our economy. The Agency is working hard, every day, to improve its services. We know that businesses are still facing continuing challenges as they work to rebuild since the onset of the pandemic. We are here to help. Here are some new and existing CRA services that can support you and your small business now and in the future.
You’ve got questions and we’ve got answers! Here are answers to five of the top business tax information questions.
You’ve got questions and we’ve got answers! Here are answers to five of the top business tax information questions.
How do I register for My Business Account?
How do I authorize a representative for my business?
How do I access CRA’s online services for businesses?
How do I make payments to the CRA?
How do I file GST/HST using GST/HST NETFILE?
Do you have questions about filing as a business for the first time? The CRA is here to help.
The Canada Revenue Agency (CRA) knows that it can be intimidating for new businesses to file their first tax return. That’s why we aim to help small businesses by ensuring they have the information and guidance they need to stay organized and to understand and meet their tax obligations.
Here’s what you need to know if you are a new business and have questions about filing your income tax and benefit return or your T2 corporation income tax return:
June 15, 2022, is the deadline for self-employed individuals to file their 2021 income tax and benefit return
The Canada Revenue Agency (CRA) is here to support you and your business in meeting your tax obligations.
If you are a self-employed individual, or if your spouse or common-law partner is self-employed, you have until June 15, 2022, to file your 2021 income tax and benefit return.
What are my tax obligations as a self-employed individual?
If you earned self-employment income from a business that you operate yourself or with a partner, you have to report that income by filing a tax return.
When you're self-employed and you operate your business, you must pay the following:
personal income tax
Canada Pension Plan contributions
Employment Insurance premiums if you are eligible and have registered to participate
Reporting your income also means that the CRA will have the most accurate information on file to determine if you are eligible for provincial and territorial tax credits and benefits, the GST/HST credit and the Canada child benefit.
How to change your income tax return after you file it
Request changes online
You can change your return online by using the improved and simplified Change my return option found in My Account, or by using ReFILE. These services are the fastest, easiest and most secure way to change a return. If you cannot request changes online because your return is still being processed, you must wait until it has been assessed.
The draft legislation that includes the enhancement to the Educator School Supply Tax Credit and the Return of Fuel Charge Proceeds to Farmers Tax Credit has not received Parliamentary approval. Once the legislation is approved by Parliament, the CRA will process the tax returns with these refundable credits. Contact us if you have questions.
With the enhancements to Change my return, you may be prompted by questions and/or messages when errors are detected that must be resolved before you can proceed with your submission.