i asked cra last month if it is possible to pay trust taxes owing online through bank. they said no.
since it is GRE i was planning on mailing the return with a cheque, the will, death certificate and authorization.
if i could pay online i would submit will, death certificate through cra portal and efile t3
thx
Yes you can pay online with VISA debit through My Trust Account. I just went through this with a trust. The amount was over $10k so they wouldn’t take a cheque. Client went to the bank with the remittance voucher but the teller didn’t know how to enter a trust. VISA debit online worked but they need to be able to log into My Trust Account
The unfortunate thing is very few executors are savvy enough to get set up with a rep ID and successfully establish myTrustAccount. I failed at it when i was executor last year. Lawyer used my full name and middle name in will. My red ID is not in that format so they would accept the MyTrustAccount application. CRA isn’t making any easy with business or trust communication.
Yes i agree - if it is complicated for executors pay - they pass that on to us.
I spoke to CRA and agreed for simplicity for executor to send hard copy to cra.
The amount is under $10k
thank you
From the CRA website:
As of January 1, 2024, payments or remittances to the Receiver General of Canada over $10K should be made electronically. The option to send payments by cheque will remain available to taxpayers for the foreseeable future. Before applying a penalty, the CRA will be educating taxpayers about the easy, secure, and convenient electronic payments options currently available to make payments to the CRA.