Canada Revenue Agency

Canada Revenue Agency

October 02, 2009 10:25 ET

FEDERAL TAX: "Individuals and Businesses Can Now Pay Their Taxes Online"-Jean-Pierre Blackburn

JONQUIERE, QUEBEC--(Marketwire - Oct. 2, 2009) - The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), announced the launch of a new online service at the Canada Revenue Agency (CRA).

"Taxpayers and businesses can now send payments to the Canada Revenue Agency instantly from their accounts at participating financial institutions using the new My Payment service," said Minister Blackburn. "This new service is yet another achievement aimed at reducing the paperwork and compliance burdens for Canadians."

The new My Payment service is safe and uses the existing security of your online banking services. It is also private-no sensitive tax or banking information will be shared between the CRA and a financial institution.

Minister Blackburn added that "My Payment ends the inconvenience of timing payments to arrive on the right day by mail by crediting CRA accounts at once for payment transfers. The service also ends the hassle of monitoring outstanding cheques to avoid non-sufficient-funds transactions, by only allowing payments when funds are immediately available from your account." This service will equally benefit businesses of all sizes and individual taxpayers.

My Payment is accessed using a portal on the CRA Web site. The service lets individuals and businesses send payments electronically through a secure link with Canadian financial institutions who offer Interac® Online payment service. Currently, those institutions include the following: BMO Bank of Montreal, Scotiabank, TD Canada Trust, and RBC Royal Bank. This new service will be available on October 5, 2009.

Transactions completed through My Payment can contain several payments for a combination of both individual and business accounts at the CRA. Payments can be made from a personal or a corporate bank account at a participating financial institution.

For more information about My Payment, or to use the service, go to www.cra.gc.ca/mypayment.


FACT SHEET

My Payment - a new service for businesses and individuals

My Payment is an electronic payment service, accessed through the CRA website, that allows individuals and businesses to send payments directly to the Canada Revenue Agency (CRA) from an account at a participating financial institution(i).

My Payment is fast and easy to use. The service is provided through Interac® Online and its many benefits include:

- Immediate payment - no accounting for the time it takes to mail a cheque.

- Safety and security - the payment is completed through your existing online banking service.

- Privacy - no personal information is exchanged between the CRA and your financial institution.

- Simplicity - payments to several CRA accounts can be made in a single transaction.

How do I use My Payment?

1. Select the My Payment option from the CRA Web site (www.cra.gc.ca/mypayment).

2. Compose your payment by listing the accounts and amounts you will be paying. You will need your account information as provided by the CRA.

3. Select the "Pay now" option and then choose your financial institution. You need to be registered for online banking with your financial institution.

4. Log in to your financial institution's online banking with your usual login ID and password.

5. Choose an account from which to deduct your payment.

6. Confirm the payment. You will be automatically directed to a confirmation page.

7. Print or save a copy of your transaction receipt.

Is My Payment secure?

Yes. My Payment is secure for a number of reasons:

- You don't need to enter any financial information, card numbers, or login information on the CRA site.

- The payment is completed through your existing online banking service.

- No personal information is shared between the CRA and your financial institution.

To maintain security, keep your identification information confidential.

For more information, visit www.cra.gc.ca/mypayment.

(i) The following financial institutions currently offer Interac® Online as a payment option: BMO Bank of Montreal, Scotiabank, TD Canada Trust, and RBC Royal Bank.

® Trade-mark of Interac Inc. Used under licence.

Contact Information

  • Canada Revenue Agency
    Noel Carisse
    Media Relations
    613-952-9184
    or
    Office of the Minister of National Revenue
    and Minister of State (Agriculture and Agri-Food)
    Sophie Doucet
    Press Secretary
    613-608-3252