What is necessary is that the taxpayer have a debit card with a VISA Debit, Debit MasterCard, or Interac logo from a participating Canadian financial institution, as My Payment is set up to accept payment using only those cards. There is no fee charged for the service, and it’s not necessary to be registered for any of the CRA’s other online services in order to use My Payment.

The CRA also provides an online payment service called My Payment. It is not necessary to access any particular CRA form in order to make an online payment of taxes through one’s financial institution. current year tax return, as distinct from current year tax instalment payments) must be specified, and the taxpayer’s social insurance number must be provided, in order to ensure that the payment is credited to the correct account, for the correct taxation year. What’s important to remember is that the nature of the payment (i.e. The specific steps involved in making that payment will differ slightly for each financial institution, depending on how their online payment systems are configured. The list of financial institutions through which a payment can be made to the CRA is a lengthy one (available at ), and includes all of Canada’s major banks and credit unions. Millions of Canadians transact most or all of their banking using the online services of their particular financial institution. The first five options outlined below involve payment by electronic means, while the last three describe those available to taxpayers who would prefer to make their payments in person, or by sending a cheque to the CRA. There are, in fact, no fewer than eight separate options available to individual residents of Canada in paying their taxes for the 2020 tax year. It is very much in the CRA’s interest to make paying taxes as simple and as straightforward as it can be and so the Agency offers individual taxpayers a wide range of choices when it comes making that payment. No exceptions and, absent extraordinary circumstances, no extensions. This year, that means that individual income taxes owed for 2020 must be remitted to the Canada Revenue Agency (CRA) on or before Friday April 30, 2021. That rule is that income tax owed for a year must be paid, in full, on or before April 30 of the following year. There is, however, one rule which applies to every individual taxpayer in Canada, regardless of location, income, or circumstances, and of which most Canadians are aware. The rules surrounding income tax are complicated and it can seem that for every rule there is an equal number of exceptions or qualifications. Our tax system is, for the most part, a mystery to individual Canadians.

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