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My Business Account (My BA)
As a business owner, are you looking for ways to save time
in dealing with your tax affairs and spend more time running your
business? The Canada Revenue Agency's My Business Account is an
online service that will allow you to do just that!
With your government of Canada epass, My Business Account
gives you immediate online access to the personalized tax information
for your business, including GST/HST, corporation income tax, and
payroll.
What can you do within My Business Account?
Here are just some of the features.
GST/HST:
- View
account balance and transactions.
- View
correspondence items from the CRA (e.g. Notices, letters,
statements, etc.).
- Make
online requests (e.g. requesting additional remittance vouchers,
requesting a payment search or credit transfer, stop/restart the
mailing of certain account statements and envelopes, etc.).
Corporation Income Tax:
- The same
benefits as for GST/HST, plus
- Register a
formal dispute (Notice of Objection)
- File a
return and view return status
Payroll:
- File a T4
and other information returns
- View T4
return status
- View
account balance
- Provide a
nil remittance
- Request a
CPP/EI ruling
Would you like your own employees or third party
representatives (e.g. accountant, bookkeeper etc.) to have convenient
online access to your My Business Account information?
By selecting "Authorize or Manage Representatives"
in My Business Account, owners can authorize their employees and
other representatives to deal with the CRA on their behalf - essentially,
an electronic version of the RC59 Business Consent Form.
Owners can also view the list of their authorized
representatives, and change or cancel authorizations for existing
representatives. Once authorized, the employees or third party
representatives will access the information and transact online on behalf
of the business owner through the Represent a client service (http://www.cra-
arc.gc.ca/representatives/)
Note: Owners can also authorize online access to their My
Business Account information via the newly revised RC59 Business
Consent Form, which can be downloaded from http://www.cra-
arc.gc.ca/forms/.
Coming soon
Additional account information and services are added every
6 months to the My Business Account service. Tentative for April
2008, owners will be able to file a GST/HST return, view payroll account
transactions and remitting requirements, view/manage operating name, and
view banking information for the direct deposit information on file with
the CRA.
To learn more about the growing range of services available,
visit http://www.cra-
arc.gc.ca/mybusinessaccount/
Submitted by Daniel Alarie from Revenue
Canada Agency
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