Every year, thousands of Canadians successfully file their tax returns — then stall when it comes time to actually send the money to CRA. Whether you owe personal income tax, corporate tax, GST/HST, or payroll remittances, the Canada Revenue Agency offers more payment methods than most people realise. Choosing the right one can mean the difference between a payment credited on time and an interest charge you did not see coming.
This guide covers every CRA payment option available in 2025, including what information you need, how long each method takes, and which ones to avoid when you are up against a deadline.
CRA charges compound daily interest on any balance owing from the due date — currently at the prescribed rate plus four percent for individuals and corporations. On a $10,000 balance, even a two-week delay can cost over $30 in interest. Late payments also count against you if you ever need to request taxpayer relief. Picking the right payment method and building in processing time is one of the simplest ways to protect yourself.
My Payment is CRA's own online payment portal, accessible through your CRA My Account or directly at canada.ca. It accepts Interac Online, Visa Debit, and Mastercard Debit — but not regular Visa or Mastercard credit cards. That distinction trips up a lot of filers.
To use it, log in to the CRA website, navigate to "Pay now," and select the correct account type: personal income tax, corporate income tax, GST/HST, payroll, or another program account. The account selection step is critical — a payment credited to the wrong program account can still generate arrears interest on the one that was actually due.
Payments made through My Payment are typically credited the next business day. Daily limits vary by bank and are often in the range of $50,000 to $100,000, so larger corporate remittances may require multiple transactions or a different method.
The vast majority of Canadians pay CRA the same way they pay a utility bill: through their bank's online banking portal. Most major Canadian banks — RBC, TD, Scotiabank, BMO, CIBC, and others — have CRA listed as a payee.
When adding CRA as a payee, you will see several variations depending on your bank. Common payee names include:
Bank bill payment typically takes one to three business days to appear in CRA's system, so if your due date is April 30, you should initiate the payment no later than April 27. Most banks place no dollar limit on CRA payments made this way, which makes it the preferred option for larger balances.
One common mistake: using the wrong account number. If your SIN or BN is entered incorrectly, CRA may not be able to match the payment to your file, and you may need to call them to resolve it — a process that takes time you may not have.
If you make quarterly tax instalments or want to schedule a future payment with certainty, Pre-Authorised Debit is worth setting up. Through CRA My Account, you authorise CRA to debit a specific amount from your bank account on a date you choose. CRA provides a confirmation number, and the payment goes through automatically on the scheduled date.
This is particularly useful for individuals who receive investment income, rental income, or self-employment income and owe quarterly instalments in March, June, September, and December. Setting up four PADs at the start of the year removes the risk of forgetting a due date.
Corporations, GST/HST registrants, and employers with payroll accounts use My Business Account, CRA's equivalent portal for business filers. The payment flow is similar: log in, select Payment, choose Pay Now, and select the appropriate program account.
For corporate income tax, your account number is your 9-digit Business Number followed by RC0001 (or the appropriate suffix if you have multiple corporate accounts). For GST/HST remittances, the suffix is RT0001. For payroll, it is RP0001. Using the correct account code ensures CRA credits the right program account — getting this wrong is surprisingly common and creates unnecessary follow-up work.
For very large amounts or payments originating from outside Canada, wire transfer is an option. You will need to contact CRA directly to obtain the correct wire transfer details, and you must include your tax account reference number in the payment instructions. Without it, CRA cannot reliably match the funds to your account. Processing times and bank fees vary, so plan accordingly if you go this route.
If you prefer to pay in person, you can walk into any Canada Post outlet and use the PaySimply service. Bring your payment slip (from a Notice of Assessment or instalment reminder) or simply provide your SIN or Business Number. You can pay with debit or credit card — including regular Visa and Mastercard — which is one advantage this method has over My Payment.
There is a $3.95 service fee per transaction, and you receive a confirmation receipt immediately. This option works well for individuals who do not use online banking or who want a physical proof of payment in hand.
Cheques are still accepted. Make your cheque payable to the Receiver General for Canada, and write your SIN (for personal income tax) along with the tax year in the memo line — for example, "SIN 123 456 789 — 2025 tax return." Mail it to the CRA Ottawa address listed on your Notice of Assessment or the CRA website.
Allow at least two weeks for delivery and processing. Given the risk of lost mail and the complete lack of real-time tracking, cheques are not recommended for any payment with a firm deadline. If you must use this method, send it well in advance and consider registered mail.
Regardless of which method you choose, including the correct reference is not optional. For personal income tax, that is your SIN. For corporate accounts, it is your 9-digit BN followed by the correct program suffix (RC0001 for corporate income tax). If CRA cannot match a payment to a specific account, they will hold it in suspense — and arrears interest continues to accumulate on the outstanding balance in the meantime.
If you overpay, CRA will credit the excess to your account. You can request a refund or instruct CRA to apply it toward next year's balance. Refunds are typically issued within a few weeks if you are registered for direct deposit.
If you underpay, CRA charges arrears interest from the original due date — not from when they notify you. If the underpayment resulted from extraordinary circumstances (serious illness, natural disaster, or CRA error), you may be eligible for interest relief by filing Form RC4288, Request for Taxpayer Relief.
At Swift Accounting Calgary, we routinely help clients navigate payment discrepancies, request relief, and set up instalment schedules that prevent underpayment penalties from arising in the first place. Getting the mechanics right matters as much as the return itself.
For most individuals and small businesses, bank bill payment remains the simplest and most reliable option — no fees, no dollar limits, and it integrates with banking you are already doing. For scheduled instalments, Pre-Authorised Debit removes the risk of missed due dates. For in-person payers or those who need to use a credit card, Canada Post via PaySimply is a practical alternative despite the small fee.
Avoid mailing cheques for any payment with a deadline less than three weeks away. And regardless of your method, give yourself a buffer of at least three business days between initiating the payment and the due date.
If you are unsure which account type to select, what your correct BN suffix is, or whether your business is up to date on its remittances, Swift Accounting can review your CRA accounts and confirm everything is properly allocated before a small oversight becomes an interest or penalty problem.
Not directly through CRA My Payment — that portal only accepts Interac Online, Visa Debit, and Mastercard Debit. However, you can pay with a regular credit card in person at a Canada Post location using the PaySimply service, which charges a $3.95 convenience fee. Some third-party services also process CRA payments via credit card, but they charge higher fees and are not operated by CRA.
It depends on the method. My Payment (online via CRA) is typically credited the next business day. Bank bill payment takes one to three business days. Cheques by mail can take two weeks or more. Pre-Authorised Debit is applied on the exact date you schedule. To be safe, initiate any payment at least three business days before the due date.
For personal income tax, use your nine-digit Social Insurance Number (SIN) with no spaces or dashes. For business accounts (corporate income tax, GST/HST, payroll), use your nine-digit Business Number (BN). Some banks require the BN to be entered with the program account suffix — for example, 123456789RC0001 for corporate income tax. Check your bank's payee instructions or confirm with your accountant if you are unsure.
Pay as soon as possible — CRA charges compound daily interest from the due date, so every additional day increases your balance. Once you have made the payment, check your CRA My Account to confirm it has been applied. If the late payment was caused by circumstances beyond your control (hospitalisation, a significant natural disaster, or a postal strike), you can apply for interest and penalty relief using CRA Form RC4288. A tax professional can help you document the circumstances and improve your chances of relief being granted.
Whether you are setting up instalment payments, reconciling a balance owing, or dealing with a payment that was applied to the wrong account, our team is here to help. Contact Swift Accounting today to speak with a Calgary tax professional who can review your CRA account and make sure every dollar lands exactly where it should.
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