The Canada Revenue Agency also known as the CRA requires businesses to file certain remittances related to GST tax for some areas in Canada and HST and GST tax for HST participating provinces and territories. The CRA also requires businesses with employees to remit source deductions which corresponds with their payroll. In order to keep track of all of this, business owners can use the CRA My Account portal and their CRA login information to access the CRA My Business Account section which enables them to use the HST calculator and GST HST netfile system. This enables them to remit business tax collected from purchases and services which they provided as well as verify and remit payroll taxes. Due to the ease of access of this online portal through the Canada Revenue Agency, many business owners have taken over all corporate tax duties and responsibilities. At first, this may be manageable but as their businesses quickly grow they come to the realization that delegating these accounting and bookkeeping responsibilities to the professionals is the best decision they could make. Thus, allowing them to bring the focus and attention to their business that they desire.
Have you been struggling to manage your Notice of Assessments and other business tax requirements from the CRA? Allow the accounting service experts at Numetricacity to do the heavy lifting. Our full-service accounting and bookkeeping team is well versed in all of the corporate tax, audit, GST HST and GST payment dates and other important matters related to the Canada Revenue Agency and requirements for incorporated businesses, and non-incorporated businesses alike. Corporate finance is our specialty and with the help of a certified tax accountant, you will never miss a deadline with the CRA ever again. There won’t be any more surprises when it comes time for the tax filing and remittances with Numetricacity’s forecasting and detailed corporate tax financial planning.