Monday 5 October 2009
The Canada Revenue Agency (CRA) has integrated Interac Online, an internet payment method which enables Canadians to make income tax payments directly from their bank accounts, without disclosing personal financial data.
As a result of the initiative, starting October 5th 2009, taxpayers and businesses will be able to pay online for various types of taxes, including income taxes, corporate taxes, payroll taxes, and GST, as well as make one-time payments and instalments. Interac Online works with existing online banking services of participating Canadian financial institutions.
Public Works and Government Services Canada, which establishes banking services for the Government of Canada, has made it possible for the CRA to implement this new service.
Filer Identification Number (FIN) change
Starting in January 2010, the Canada Revenue Agency (CRA) will be processing information returns using the Business Number (BN) in order to simplify filing and processing.
In the future, the FIN will be converted to the BN. If you are required to file either the T5, T5007, T5008, T5013 or the RRSP contribution receipts, you will be asked to file your returns and receipts using the BN instead of the FIN.
The CRA will be notifying all filers of their new converted BN by letter. If you have not received your BN by December 2009, please call 1-800-959-5525 (English).
If you are filing these returns on behalf of others then you might want to give them some notice that you will be requiring this number and they should contact you once they receive it. Failing to put this number on a return will be subject to a fine.