Hi all,
How do you deal with the instalment remittance forms if your client haven’t received them? Is there any way to help them without ordering these from CRA which takes a while?
Thanks
I never use remittance forms. My clients are instructed to make payments through their online banking or through My Payment on CRA’s website.
Print the two pages on one piece of paper. Cut along the line where perforation should be. Banks don’t send the forms to CRA anymore since the payment is electronic. A local RBC was still accepting the form a few years ago.
RC107 Pg 1.pdf (492.6 KB)
RC107 Pg 2.pdf (22.7 KB)
No promise it will be accepted, but it’s worth a try.
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For instalments at least I get clients to set up online scheduled payments for the whole year, set and forget.
Thanks @helga_spence & everyone else. I also advise clients to pay online but there are a few stubborn ones and they don’t want to do it online.
Pretty soon it’s likely they will have no choice. Feds are moving more and more to cutting out the banks, cheques and other forms of payment. They want it directly and they want it NOW!
Speaking as someone in rural NB… a large portion of both my personal and business clients are not comfortable with online anything. Our Internet is also not fabulous which makes us more behind the times than those decision makers. Once decent internet is established it will take years to teach the non computer humans to assimilate.
Rachel Parlee
(506) 874-3093
I like to go to the bank for face-to-face because
- I want my neighbours to have a job;
- I want my clients to have face-to-face conversations when discussing loans or investments;
- I want to get dollar bills that are less than $20 and rolls of coins, or even convert bills to coins;
- I want to pick up USD, Euros, etc at my local bank instead of having the money mailed out only to have it arrive in the mailbox the day after her departure. A client experienced just that, having ordered the money THREE WEEKS before departure. Good news, the Euro went up she while away, so there was a small currency gain. She borrowed Euros from a friend in Europe and repaid with Canadian dollars upon return.
In other words, I still want a brick and mortar building in small town Alberta.
Although I am in rural NS, I have good internet service with Eastlink. Recently, Bell have expanded to my neck of the woods, but they can’t match Eastlink for options and price. And what they have here for fiber internet is not noticeably faster than standard Eastlink. In The past 7 years with Eastlink, I’ve had 2 or 3 modest price increases, whereas my Bell cell phone and Bell fibe TV in the city have price increases at least annually, sometimes more often. I’d love to see more competition and prices halved. I have T1 & T2 clients in HRM, so they have fast, reliable internet, some of whom are computer/internet savvy, who still refuse to do anything to do with finances online. And, these same people won’t pay instalments. So, when I complete their T1’s & efile them, I send the client a paper copy of their T1 and a remittance form printed from TaxCycle. They make a cheque and take it and my form to their bank & pay their tax. When their assessment comes in, they pay the interest. Same thing for their T2’s. Their bank never questions the form or rejects it because it’s not MICR encoded. HST is a different kettle of fish. Banks won’t accept a generic form filled in by hand. So, the client does everything by Canada Post and pays the consequences. There was a time when I used to get a supply of generic HST reports from CRA and use them for my clients with no kickback from the banks. You can now guess how long I’ve been at this game. I have other clients, some in HRM, and some way out in the boonies, who have completely gone the digital route with no problems or regrets. Personally, I have written 2 cheques on my business account since 2015. Everything else, both financial and non-financial, is done online. A good number of clients pay me by e-transfer, or direct deposit. I will only go inside a bank if I need actual cash. If a T1 client pays me in cash, I pocket it and record a cash receipt entry to credit accounts receivable and debit shareholders loan. The nearest branch of my bank is 25 minutes away, and it’s not worth the drive. Plus, they add an extra service charge for depositing cash, even though their banking machine counts the cash for them. There’s more than one way to skin a cat.
I agree that CRA is making things more difficult. When I go to the section of any return that lists the payment options, I never see a mail-in option. I have to drill down to find the tax office mailing address. But then, I was around in prehistoric times when we printed T1’s, etc. on dot matrix printers on 3-part forms, and one post office in the city stayed open till midnight on April 30 so your package could be postmarked within the deadline.
I must be incredibly lucky. I live in the middle of everywhere BC and have Telus Fibre to the house. Synchronous GBps speed (and it never varies) up and down.
We even have a cell tower sort of nearby now, so I have cell service.
Before that I used to use Ubiquiti radios to send signal from a Shaw Cable Modem in a nearby town (11 km driving; 26 km by radio) with two relay points on hills to my house. Worked great and I got about 50 MBps down, 15 MBps up…but as the trees closed in and grew, it degraded over 9 years to 15/15…still usable, but a bit more frustrating working on my remote servers.
…and yes, CRA has no clue about rural lack of internet or people who don’t compute. They think everyone is 25.
My favorite way of getting paid is by etransfer. I do use the Scotia app to deposit cheques from home but I do like to use the local branch for the reasons mentioned by @helga_spence. My least favorite way of getting paid is by cash.
I am a little over an hour from Canada’s capital, in rural Ontario but am fortunate enough to have a local phone company that expanded to internet services so I have fiber to my desk.
So, you were around during the last ice age, too? Around 2000, our only option in an office where I was working at the time was a satellite dish that had to have the snow brushed off in the winter to connect. At the time, Bridgewater (largeish town along the coast) had poor internet, and the new WalMart used the same technology. Times have changed.