The Canada Revenue Agency (CRA) has been charged with reducing red tape and making it easier for small businesses to do business.
The CRA recently produced a list of improvements being brought online: New result screens have been added to the Payroll Deduction Online Calculator. Using the new RC366 form, businesses can request direct deposit for GST/HST, Payroll and/or Corporation Income Tax to one or multiple bank accounts, all on one form. Some businesses can submit certain documents electronically to support their T2 returns when requested by the CRA. Users of My Business Account can view their original online enquiries at any time by using reference numbers. Most businesses can file their GST190, GST/HST New Housing Rebate Application for Houses Purchased from a Builder electronically. The CRA has increased to 100 from 50 the number of information returns a business can file in a single submission using the CRAs Web Forms application. Every service in My Business Account now has sidebar links to the Message Centre, making the service easier to navigate. Businesses can electronically elect to use the quick method of accounting for GST/HST filings.