CRA’s electronic services: Improvements in the works

Read about enhancements in Canada Revenue Agency (CRA)’s electronic services.

Taxpayers and advisors will benefit from a number of enhancements for Canada Revenue Agency’s (CRA) electronic services.

Many of the improvements involve the My Business Account service. Businesses will be able to self-generate a letter that summarizes registration and current-year account balances for businesses that have met their filing obligations with CRA. They will also be able to update their banking and direct deposit information through the system. In addition, businesses will be able to use preauthorized debits to make one-time or recurring payments to CRA.

Other enhancements will allow businesses to efile or electronically submit their partnership information returns, amended T2 corporate income tax returns, excise duty returns, RC59 Business Consent Forms, and GST 106 forms for reporting information on foreign conventions and tour packages. CRA also plans to lift restrictions to allow most non-resident corporations to efile corporate tax returns.

CRA is working to make all forms available on the CRA website fillable electronically, although these forms will still have to be printed and filed in hard copy format.

These initiatives align with CRA’s Vision 2020 strategic plan to extend its reach by collaborating with third-party stakeholders including Chartered Professional Accountants of Canada (CPA Canada) (discussed in our November 2012 issue of Talking Tax).

This document was originally prepared by a legacy CPA organization.