It's tax time. And now there's an easier way to pay taxes online. Interac Online allows individuals and business owners to make secure online tax payments directly from their bank account, and is accepted on the Canada Revenue Agency’s website (CRA) through My Payment.
All you need is access to online banking with a participating financial institution. No set-up. No stamps. No running around.
Pay various types of taxes when e-filing, including payments from individuals and businesses for income taxes, payroll source deductions, excise, GST/HST, and more.
Interac Online can be used at more than 700 online merchants and organizations across Canada.
The following financial institutions are currently offering the Interac Online service:
My Payment is an electronic payment service, accessed through the CRA Web site, that allows individuals and businesses to send payments directly to the CRA from their online banking account when filing income tax online.
The My Payment service is currently available to Canadians who do taxes online, who have online banking accounts at financial institutions using Interac Online services. You must have access to sufficient funds, and the transaction total must be within your financial institution’s withdrawal limit for online banking.
At this time, the service is only available to users with online banking accounts at participating financial institutions.
To participate in My Payment, the financial institution must have an agreement with Interac Online, allowing its clients to send money to any merchant or organization that is accepting Interac Online payments.
There are a number of ways to make payments to the CRA, including other online banking methods. See the various payment options available on the CRA website.
My Payment is a quick, easy, and secure way to send money instantly for payments to the CRA. My Payment simplifies accounting because the transfer is immediate. There is no need to pay early to make sure your payment arrives on time or to monitor your account because of an outstanding cheque.
You can make payments to the CRA from your bank’s online banking site, just as you pay your other bills. However, My Payment can offer advantages for individuals and business owners.
You can send multiple CRA payments in one online transaction to the CRA.
You can make CRA payments that may not yet be available through your online banking service (e.g., Child and Family Benefit amount owing, Non-Resident withholding tax).
You can make a CRA payment from either a personal account or most business accounts.
You can make CRA payments to business revenue lines (payroll accounts, corporation income tax, etc.), which are generally not possible from a personal account at a financial institution.
Your CRA account will be credited on the day you make your payment or the following business day, see FAQ 15 below.
From the CRA My Payment Web site application, you:
Most types of individual, business, and corporate payments are available as remittance options; see Remittance types on the CRA website.
All provincial programs are included under the Canada Child Tax Benefit Program. A payment directed to the CCTB will be applied first to any amount owing under the provincial programs and then to any amount owing under the federal program.
Yes. My Payment is secure for a number of reasons:
The CRA does not charge any fee for using the My Payment service. My Payment also allows a number of separate payments to be included in one transaction. Your financial institution processes the payment and may charge a fee for this service, or it may be part of your banking package. Contact your financial institution to ask about any fees. If your financial institution charges a transaction fee, it will be charged only once regardless of the number of payments included in the transaction.
Yes. However, non-residents must remit their payments in Canadian funds using a participating financial institution in Canada.
The application will guide and validate your data as you progress step by step. You will need to enter the following information:
You may also need to enter the following information:
Payments made on weekends and statutory holidays will be recognized as having been made on the following business day. Payments made on a regular business day will be recognized as having been made on the same business day.
Immediately after successfully completing the transaction, a confirmation page that includes a receipt will be displayed. You should save or print the confirmation page for your records in the unlikely event that the payment is not reflected in your CRA account; a CRA representative can use the information it contains to trace your payment.
Various messages are displayed when the service is not available due to system maintenance, service outage, or technical difficulties beyond our control.