Canada Revenue Agency Payment Options: How to Log in to My CRA Account?
The Canada Revenue Agency (CRA) offers various online accounts for businesses in Canada. This account helps in viewing the account holder’s tax information and also keeps their small business in good books of CRA. You need to have an account if you wish to do your tax business with My CRA Account Login online.
My Account allows you to deal with personal income tax online. You need this account if you are operating sole proprietorship or doing partnership. With My Account, you can manage your personal income tax. Mainly it is used for viewing your account balance and payments history. You can also find information regarding amount of installments you owe and have already paid. It also helps you in finding your RRSP contribution limit and TFSA contribution room.
You can also make changes to your income return if you have to. This are just few benefits and uses of My Account, you can do a lot with it. When you get registered as a My Business Account user, everytime there is a new correspondence from CRA, you get email notification. You need to register first to access CRA login business account.
How can you register for My Account
You can access My accounts in two different ways. One is via sign partner that is selected financial institution like BMO Bank of Montreal and ING Direct. Second way is through creating and using CRA log in. out of the two options, using the sign in partner is more convenient as you can use same information as that of online banking. Whatever way you use, in both ways you will need: social insurance number, date of birth, postal or zip code. You will also need current or last year’s income tax return. This is because you will be asked to enter an amount of particular line. This line varies.
Now on the log in page either chooses “continue to sign in partner” or “CRA Register”. You will ask to fill in the required information and create username and password and select five questions of your choice and answer them.
Once the entire process finishes you will be informed that CRA will send you a security code via mail that’s too in five to ten days. When you receive this code you can use My Account online service. You might want to access your MY Account as soon as you complete registration but it is not possible. But with Quick Access you can have a look at your personal tax information like tax return status, RRSP deduction limit and TFSA contribution room. Yan easily use Quick Access if you have personal information to identify yourself.
My Business Account
My Business Account is for those business owners who have file GST/HST, have payroll, have import/export accounts and file corporate income tax. You need to have this account to deal with all other tax related work of your Canadian business. However, to maintain your tax online you need to have My Account too. With My Business Account, you can adjust a GST/HST return and can even see the direct transactions related to your income tax.
How can you register for My Business Account
If you wish to register yourself for My Business Account then you have to follow the same steps you did for My Account. Once you receive your CRA security code and log in to My Business Account, you need to enter your Business Number too.
Represent a Client Service
If you wish that your business tax information online can be access by someone else too then you can use the service called Canada Revenue Agency’s Represent a Client service.
How can you register for Represent a Clientservice
If you wish to use the Represent a Client service then you can use it through sign in partner or CRA log in account. While registering for the services, you will be asked the access code on your Notice of Assessment. This number is eight character alphanumeric codes that is found on the right hand corner of the notice and your ZIP or postal code.
After this you will have to create CRA user ID and password and select the security questions and answer them. Now you can register with the Represent a Client online service by simply registering either your business or yourself in order to receive a representative identifier (RepID) or you can register a group and get group identifier (GroupID).
When the entire process finishes, you have to give the acquired GroupID or RepID with Business Number, so that they can represent you. Now if your client is an individual then they can go to My Account and authorize you by entering ID number. In case your client is a business then they can authorize by going to My Business Account and entering the required ID number.
The other way for authorization is by old means that is by filling the form and mailing it to the tax centre.