Tax Tip: Pay Your Taxes Online-and on Time

OTTAWA, ONTARIO--(Marketwired - April 17, 2015) -

Editors Note: There is a video associated with this press release.

Did you know?

There are many reasons why you might be paying taxes throughout the year. For example, you might pay tax instalments because you're self-employed, or maybe your employer doesn't deduct enough income tax-but did you know you can choose to make your tax payments online?

Choose the payment method that's right for you:

• Online banking - You're already paying your hydro and phone bills online. Just add the Canada Revenue Agency (CRA) as a payee, and then add your account number carefully to avoid a lost or misapplied payment (your account number is your social insurance number).
• Interac online - The CRA has a My Payment service which allows you to pay with your debit card if you bank with a participating financial institution.
• Directly from your bank account using pre-authorized debit - If you pay by instalments, or you simply want to set up your tax payment in advance, you can choose the convenience of having your payment come out of your bank account automatically. You choose the bank account, the amount and the specific date or dates-just make sure to set it up a minimum of five business days in advance of your payment. You're in control. Set it up and you no longer have to worry about late payments.
• Third-party service providers - You may be able to make your payment through a third-party service provider. The third-party service provider will send your business or individual payment and remittance details online to the CRA for you.

For more information, watch our video Change it up: Pay your taxes online and go to www.Canada.ca/payments.

Stay connected

To receive updates when new information is added to our website, you can:

• Follow the CRA on Twitter - @CanRevAgency.

• Subscribe to a CRA electronic mailing list.

• Add our RSS feeds to your feed reader.

• You can also watch our tax-related videos on YouTube.

To view the video associated with this press release, please visit the following link: https://www.youtube.com/watch?v=6ig7LXpHD4E