Transcript

How to pay the CRA easy electronic payment options for business

Slide 1 – Introduction Slide

Hello and welcome to our webinar about How to Pay the Canada Revenue Agency – also known as the CRA - using easy electronic options.

I’m Matthew, your host for today.

Let’s get started.

Slide 2 –Electronic Payment Options

No matter what the size or nature of your business, this webinar will show the easy ways to send payments to the Canada Revenue Agency.

Today, we’ll look at:

• My Payment
• Pre-authorized debit
• CRA BizApp
• Online banking
• Credit Cards
• Paypal or e-Transfers

Slide 3 – My payment

You can easily access CRA’s My Payment service directly by entering canada.ca/cra-my-payment into your browser.

Slide 4 – My Payment – Getting Started

To make a payment using My Payment, you will need to have a debit card with a Visa Debit logo, Debit MasterCard logo, or an Interac logo. You will also need a Canadian bank account with a daily limit high enough to make the payment.

Slide 5 - Start My Payment

The My Payment main page gives you information about the service, and instructions on how to pay, based on the type of card you have.

To Start My Payment, select ‘Pay Now’.

Slide 6 - My Payment - Step 1 of 6

We’ll look at payroll source deductions. There are six steps involved. We’ll start by clicking on "Payroll source deductions."

Slide 7 - My Payment - Step 2 of 6

From the list of payroll source deduction payment types, we’ll select "regular remittance."

Slide 8 - My Payment - Step 3 of 6

At step three, complete all the fields and press "Next."

Slide 9 - My Payment - Step 4 of 6

Once you complete the fields in step 3, a summary of your payment will be presented in Step 4. Confirm the details and select "Confirm and proceed to pay." If you’ve made an error, you can correct it by selecting "Modify payment." You can also add another payment or just end the session.

Slide 10 - My Payment - Step 5 of 6

Step 5 advises you that you will be directed to a secure site; gives you information about which option to choose based on your card type; and assures that you will receive a receipt when the transaction is complete. Clicking on "Pay now" takes you to the secure site.

Slide 11 - My Payment – External Site – Select Option

Still in Step 5, you are now at an External Payment site, containing two payment options:

• If your card has a Visa Debit logo or a Debit MasterCard logo, choose the Visa Debit/Debit MasterCard radio button.
• If your card only has the Interac Online logo, choose the Interac Online radio button.

Clicking either takes you to a secure external site.

Slide 12 - My Payment – External Site - site – Visa Debit/Debit MasterCard option

At that site, the "Payment Details" will display the "Transaction Amount" and the "Order ID" followed by fields for "Cardholder Name," "Card Number," "Expiry Date," and the "Card Security Code." Remember that this is a debit card form, so don’t use credit card information.

Click on the "Process Transaction" button. This will complete the payment transaction at the external site and return you to the CRA website for a receipt.

Note that "Cancel Transaction" is an option.

Slide 13 - My Payment – External Site - Interac Online option

If you chose the "Interac Online" radio button, the site will display the "Transaction Amount" and the "Order ID."

When you select Interac online and press "Proceed to Online Banking," you will be taken to a list of financial institutions.

You can cancel your transaction here as well.

Slide 14 - My Payment – External Site – Select Financial Institution

So, here you can select your financial institution or credit union and be directed to their online banking site. Note, a credit union user chooses ‘province or territory’ first and then ‘credit union’.

The financial institution or credit union selected will display their own online banking prompts for user id and password.

Note, you can cancel here too. Paying or canceling takes you back to the CRA site.

Slide 15 - My Payment - Step 6 of 6

Back at the CRA site, step six shows you the results. In this case, the payment was approved and displays as “transaction approved." It identifies: the "Transaction number," which can be used for tracking purposes, date, time, Canada Revenue Agency, amount of payment and "Authorization number."

You will be able to view, save, or print your transaction receipt.

The "Save" or "Print" icons are located at the bottom left hand side of the screen.

The "Start a new transaction" icon will take the user to back to Step 1.

The "End session" icon will take you back to the CRA homepage.

Slide 16 -Pre-Authorized Debit

Now we’ll look at Pre-authorized debit, also known as PAD, found in My Business Account.

Slide 17 - Pre-authorized Debit (PAD)

A pre-authorized debit is a secure online service available in My Business Account. It allows you to set up post-dated payments to the CRA from your bank account on a one-time or recurring basis. This payment option is particularly handy if your payments are consistent. The amount you authorize will be withdrawn from your bank account on the date you choose.

To allow for processing time, the first available payment date is set to five business days in the future. For example, if today was Wednesday and you created a PAD today, the first available payment date would be next Wednesday, unless there was a holiday.

Slide 18 - Pre-authorized Debit (PAD)

To use pre-authorized debit, you will need to login/register a My Business Account. More on that in a minute.

You will also need a Canadian bank account with chequing privileges, and make sure that you have five business days before the payment is due.

Slide 19 - Pre-authorized Debit (PAD) – Register My Business Account

Before you start, you should make sure you can access My Business Account.

Once you have what you need, you can register by going to: canada.ca/my-cra-business-account

Slide 20 - PAD – How do you access it?

So let’s assume you are now all ready to go. You have your My Business Account registered, you have a bank account with chequing privileges, you have at least five days before you payment is due.

To get started on Pre-authorized Debit, go to My Business Account.

Once you arrive at the My Business Account login page, there are two sign-in options available – "Sign-In Partner Login/Register," or "CRA Login/Register."

Help is available on the right side of the screen for both options.

As noted on the webpage, new “Proceed to pay” buttons have been added in My Account and My Business Account making it easier to make a payment. This option, for current Payroll source deductions, will be available on May 11, 2020.

Slide 21 – PAD - My Business Account

Once you have successfully logged into My Business Account, select "Manage pre-authorized debit" in the left hand column on the Welcome page.

Slide 22 - PAD - main page

Then, select "Create new agreement."

Slide 23 - PAD – step 1 of 4

There are four steps to creating an agreement. In Step 1, select your program account from the drop down list. For this scenario, we’ll try RP – Payroll source deductions account.

Slide 24 - PAD – step 2 of 4

At Step 2 you need to select the allocation – where the payment should go. The options are:

• Accelerated threshold 1
• Accelerated threshold 2
• Balance due
• Payment on filing
• Pensionable and insurable earnings review or PIER
• Quarterly remittance
• Regular remittance, and
• Arrears/penalty/interest remittance

For this scenario, we chose Regular remittance.

Slide 25 - PAD – step 3 of 4

At step 3, enter details such as:

• Gross payroll
• Number of employees
• First payment date – this field will be pre-populated with the next available date but you can change it to a later date
• Frequency: once, weekly, bi-weekly, monthly, and end of the month
• Number of payments
• and Amount

If you’ve already used the PAD option, your banking information will be filled in; however, you can enter new banking information.

Slide 26 - PAD – step 4 of 4

Step 4 lets you review and confirm your data. If the payment information is correct, select "Confirm."

Slide 27 - PAD – confirmation page

You’re done. The Pre-Authorized Debit Agreement is created. The payment details are listed as well as important information that tells you how to cancel or modify your PAD agreement.

Slide 28 - PAD – terms and conditions

Included in the information is:

• how to dispute a payment
• and, the terms and conditions authorizing the CRA to withdraw the payment.

Slide 29 - New service through PAD

A new option for you through PAD was recently added. As an employer, you can now make a requirement-to-pay garnishee payment for your employees using CRA’s Pre-Authorized Debit service in My Business Account.

Slide 30 - CRA BizApp

Another way to submit payments is through the CRA BizApp.

Slide 31 CRA BizApp – Main Page

The CRA BizApp is a mobile application for small business owners that offers secure access to make payments, view accounting transactions and more.

With CRA BizApp you can make payments using My Payment, set up a pre-authorized debit agreement, and generate a Quick Response code when paying at Canada Post.

Slide 32 - CRA BizApp – Account Balance

This page provides you with your account balance. The 2020 balance will display the total amount paid for the year. In this case, it is zero because no current source deductions payments have been made. Click "Proceed to pay" to make a payment.

Slide 33 - CRA BizApp – Payment Details

You are now at the input screen. Here you are prompted to enter your "Gross payroll," "Number of employees," "Period end date," and the "Amount" - that amount can be changed. Click "Continue."

Slide 34 - CRA BizApp –Payment Options

This screen shows you the payment options:

• My Payment using Visa Debit, Debit MasterCard or Interac debit card
• Pre-authorized debit
• For an added fee, pay in person at any Canada Post outlet, using a personalized "Quick Response" code

For now, we’ll use "pre-authorized debit."

Slide 35 - CRA BizApp – PAD Agreement Details

Your data is brought forward, and can be changed. For instance, you may use existing banking information or add new banking information.

Once you’re ready, click "Next."

Slide 36 - CRA BizApp – PAD Review and Confirm

Review and confirm the payment details, and click "Confirm."

Slide 37 - CRA BizApp – confirmation

The Pre-Authorized Debit agreement is created. The payment details are listed.

Slide 38 - Online Banking

Using online banking, you can make payments to your payroll account through your online business bank account.

Slide 39 - Online banking

Most financial institutions offer a Government tax payment service where you can make payments to the CRA.

There may be an additional fee for this service - ask your financial institution.

To use this service, you need to have a business bank account.

Slide 40 - Payments through third party providers

Another option is to pay by credit card, PayPal, or Interac e-Transfers through a third party service provider.

Slide 41 - Credit card through third party service provider

You cannot make a credit card payment directly to the CRA, but you can use your credit card through a third-party service provider, which, for a fee, will send your payment and remittance details online to the CRA for you. There are currently two third-party providers that offer credit card payments to the CRA– Plastiq and PaySimply.

Slide 42 – PayPal or Interac e-Transfer through third party service provider

The CRA does not accept PayPal or Interac e-Transfers directly, but, as with credit card payments, you may use a third party. There is currently only one – PaySimply, which offers payments through PayPal and e-Transfers.

Slide 43 - In Conclusion

As we conclude the main part of our webinar, let’s summarize the full list of electronic options available for your business to pay the CRA.

Slide 44 - Full suite of CRA payment options

Payment Options for payroll source deductions:

We’ll start with the electronic options we have just discussed:

• First, you can use CRA’s "My Payment" with a debit card;
• Second, you have "Pre-authorized debit" through your My Business Account;
• Third, you have CRA BizApp;
• Fourth, we talked about online banking; and
• Finally, payments by credit card, PayPal or Interac e-transfer through a third party service provider

Although we encourage online options because they are fast, easy and convenient, you can also pay other ways – if you prefer. Information on all options is available at canada.ca/payments.

Slide 45 – For more information

If the content today doesn’t quite fit your situation, or you want more information,

visit

canada.ca/taxes,

or check out some of our other webinars at canada.ca/cra-videos

You can also call CRA’s business enquiries line at 1-800-959-5525.

Thanks for joining me today. I hope it’s been helpful. Stay tuned for more webinars in the coming months! Good bye.