Client Hub

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FAQ

How do I setup with CRA (My Account)?

To register for the Canada Revenue Agency (CRA) My Account, clients can follow these steps:

Step-by-Step Guide to Register for CRA My Account

1. Gather Required Information

Before starting, clients should have the following on hand:

Social Insurance Number (SIN)
Date of birth
Current address
Postal code
Tax information

2. Access the CRA My Account Registration Page

Visit the CRA My Account registration page: https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services/register-cra-sign-in-services.html?account=mya

3. Select the Registration Method

There are two main options for registration:

Option A: Using CRA’s “Register” Service (Easy Access)

If you don’t have a CRA user ID or password:

Choose “Register” on the CRA My Account page.
Enter personal information (e.g., SIN, date of birth, address, etc.).
You will need to information from your “Income Tax and Benefit Information (T1)” to verify your identity. This could be from your previous year’s tax return or the Notice of Assessment.

Option B: Using the CRA’s “Access Code” Method (Mail or Existing Information)

If you have already filed taxes and have access to your Notice of Assessment, you can use the Access Code that is provided on it.

This will simplify the registration process.

Follow the instructions on the CRA registration page and enter the details from your Notice of Assessment.

4. Create a CRA User ID and Password

After verifying your identity, you’ll be asked to create a CRA User ID and password. These will be used to log into My Account in the future.
Ensure the password is strong (use a mix of letters, numbers, and symbols).
CRA will now require you to set up two-step authentication (e.g., security questions).

5. Complete Registration

Follow the final steps, which may include verifying your registration using a one-time security code sent to your phone number or email.
Once verified, you’ll have access to your CRA My Account.

6. Log in to My Account

Once registered, you can access your account through the CRA My Account Login page.

Common Issues to Be Aware of:

Incorrect Information: Ensure all personal information entered is accurate
Wait Time for Access Code: If you need an access code and are waiting for it via mail, this could take a few weeks.
Security: Always log out of your CRA My Account after use and use secure networks for access.

Alternative Registration Methods

Mobile App: CRA also offers the CRA mobile app where you can complete some registration steps if you’re on the go.

If you’d like more details or assistance with the registration process, feel free to ask!

How do I register for the portal?

Let our office know, and we will send you an invitation link with instructions to the portal!

How do I setup with CRA (My Business Account)?

1. Gather Required Information

Before registering, ensure you have the following:

Business Number (BN): This unique number identifies your business with the CRA.
Your CRA user ID and password (if you already have a personal CRA account, you can use it).
Access code (if available): If you’ve already received a CRA My Business Account Access Code from the CRA, you can use it during registration.
Personal Identification Information: Information such as your date of birth and address.

2. Access the CRA My Business Account Registration Page

Go to the CRA My Business Account Registration page

3. Choose Your Registration Method

There are two main ways to register:

Option 1: Using CRA’s Online Registration (with BN and Access Code):

If you have received a CRA Access Code, you can use it to register quickly.

Option 2: Using CRA’s “Register” Option (if you don’t have an Access Code):

If you don’t have an access code, you can register directly using your business information.

4. Register Using CRA Login or Sign Up

Existing CRA Login: If you already have a personal CRA account, you can use the same login credentials to register your business.

Select “CRA Login” to proceed using your individual CRA credentials.

New CRA Registration: If you don’t have a personal CRA account, you will need to create one.

Choose “Sign Up” and follow the prompts to create a CRA account using your business and personal information.

5. Provide Business Information

Enter your Business Number (BN) and other related information.
If prompted, enter the Access Code you received from the CRA (if applicable).
Confirm the business details provided (e.g., registered address, contact details).

6. Create a CRA User ID and Password

For new users, you will need to create a CRA user ID and password to secure your business account.
Choose a secure password and note that it will need to meet CRA’s complexity requirements.

7. Verify Your Identity

The CRA may require you to verify your identity through several methods:

Answering security questions related to your business.
Receiving a one-time security code via phone or email.

8. Complete the Registration

After completing the verification process, click to finalize your registration. You should then be granted access to CRA My Business Account.

9. Log into Your Account

Once registered, you can log into your business account via the CRA My Business Account portal.

Visit: Login to CRA My Business Account

Use your user ID and password to access your account.

Tax Deadlines

The corporate tax deadline in Canada depends on the corporation’s fiscal year-end and whether it is a Canadian-controlled private corporation (CCPC) or a non-CCPC. Here are the general guidelines:

1. Filing Deadline for Corporations

For Canadian-Controlled Private Corporations (CCPCs):

Filing Deadline: The tax return is due 6 months after the end of the fiscal year.
Example: If the corporation’s fiscal year-end is December 31, the tax return is due June 30 of the following year.

For Other Corporations (Non-CCPCs):

Filing Deadline: The tax return is also due 6 months after the fiscal year-end.

2. Payment Deadline

For CCPCs: If the corporation owes taxes, the payment is due 3 months after the fiscal year-end.
Example: If the fiscal year ends on December 31, the payment is due by March 31.
For Non-CCPCs: Taxes are generally due 2 months after the fiscal year-end.
Example: If the fiscal year ends on December 31, the payment is due by February 28.

Key Points to Remember

Late Filing Penalties: If you miss the filing deadline, the CRA may charge a penalty. For CCPCs, there is typically no penalty if the tax return is filed late, but the balance owing is paid on time. For other corporations, penalties can be higher if the return is filed late.
Extensions: Generally, the CRA does not grant extensions for corporate tax filing deadlines, so it’s important to file on time.
Special Cases: Corporations may have different deadlines if they’re involved in specific industries or have unique tax circumstances.

If you’d like more specific advice on calculating your tax or meeting the deadlines for your corporation, feel free to share more details!

Are your services available virtually?

Yes! We can accommodate virtual meetings on any platform.

We provide virtual bookkeeping/cfo services, allowing us to provide you with full-cycle services from virtually anywhere!

How do I schedule a consultation?

To schedule a consultation, book a meeting with Jaret

What documents do I need to prepare my taxes?

As everyone’s scenario is different, reach out to our office so we can send you a personalized form to determine which documents we need from you!

Can you help with CRA audits or notices?

Yes, our firm handles CRA audits and notices on behalf of our clients on a frequent basis, if required.

What bookkeeping software do you support?

Our bookkeeping arm supports almost every software available, including the following: QuickBooks Desktop & Online, Xero, Sage 50, Dext, and many more integrating apps!

Do you offer monthly bookkeeping services?

Yes, we offer monthly bookkeeping services

Can you manage payroll for my business?

Yes, we can manage payroll for businesses of all sizes

How do you ensure the security of my financial data?

All of our client’s financial data is stored in state-of-the-art data centers, complying with privacy laws including PIPEDA. All of our client’s financial data is regularly backed up to ensure that the data is not lost.

What information do I need to get started?

Reach out to our office to receive an onboarding form!

Can I switch to your firm if I already worked with another accountant?

Absolutely. We are currently accepting clients as long as they meet our firm policies.