How to pay your business taxes with CRA

June 18, 2023

To pay your taxes online, follow these simple steps:

  • Select: My Payment - Canada.ca
  • Select the green Pay Now button.
  • Select the type of taxes you are paying, like GST/HST or Corporation income tax (T2)
  • Select the payment allocation Balance Due and December 31, [Year End]
  • Enter your business number, 9 DIGITS, 2 LETTERS, 4 DIGITS: [XXXXX XXXX] "XX" 0001
  • Enter the amount of taxes you want to pay.
  • Follow the on-screen payment instructions and confirm your payment.
  • Save a PDF or screenshot of the payment confirmation for your records.

For Most Corporations*

*Small business corporation with a December 31st year end

The deadline to pay your income tax and GST/HST is March 31st.

For Most Self-employed Individuals*

*Sole-proprietors

The deadline to pay your income tax and GST/HST is April 30th.

Remember, your late-filing penalties are based on how much tax has been unpaid after the deadline day, regardless of whether or not the returns were actually filed by the deadline. This gives taxpayers the opportunity to make an estimate payment by the deadline day to avoid any penalties and to ensure they can take their time in finalizing their returns.

As long as CRA gets their money by the deadline day, you should not be charged any late-filing penalties.

If you file your taxes by the deadline, or if you pay your taxes by the deadline, you should have no exposure to any CRA late-filing penalties.

Remember, it is always better to overpay and get a refund from CRA, than to underpay and be charged a penalty. Making an over-estimated payment to CRA by the deadline is a great way to cancel out any potential penalties from CRA.

Please note that you can use the same link for any future CRA tax payments as well.

For any questions, do not hesitate to contact your tax professional.

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Disclaimer
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without a specific consultation. Lucas CPA Professional Corporation will not be held liable for any problems that arise from the usage of the information provided on this page.

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