Direct deposit and the CRA: can your business still get cheques?
The Canada Revenue Agency (CRA) has confirmed that they will still offer cheques as a payment option, even though the federal government is encouraging Canadians to receive payments via direct deposit beginning in April 2016.
Direct deposit will continue to be promoted as the most efficient and secure method for payments to and from the government, and most Canadians, including CFIB members, are onside with this approach.
The Government of Canada will continue to issue payments by cheque to individuals and businesses who have not signed up for direct deposit by April 2016.
There is much more information, including a video, about direct deposit with the CRA.
You can also set up an online account with CRA that will facilitate your business transactions, including payments and remittances.
CFIB has a wealth of information about navigating through the CRA, such as preparing for tax audits, payroll obligations, and applying provincial sales tax.
If you have questions about how to receive and send payments to the CRA, contact a CFIB Business Counselor for assistance: email@example.com or 1-888-234-2232.