Discover the CRA’s new tax self-service (TSS) feature

The new Canada Revenue Agency (CRA) tax self-service feature will have you smiling from ear to ear.

If you ever paid your income tax balance to the wrong CRA account, this blog post is for you!The CRA recently unveiled a new tax self-service feature: you can now reallocate payments in your personal CRA account. 

Here are top two reasons you should be putting on your special shimmery boots and doing a happy dance:

  1. Save (a lot of) time by NOT having to make a call to the CRA
  2. Save trees by not needing to prepare and mail stuff into the CRA

Previously, if you made a mistake such as paying your 2023 tax balance towards the 2024 tax installment, it was the most horrible thing ever. You might have even shed a helpless tear. 

Now YOU can “Make an Online Request” and move payments.

This is a major benefit especially for anyone who was not looking forward to that dreaded phone call with the CRA to make the fix. Now, you or your authorized representative such as Homeroom can do this on your behalf!

Want to give it a try? Here’s what to do:

  1. Log in to your individual CRA account
  2. Click on Accounts and Payments
  3. Click Make an Online Request
    1. Then select the following:
    2. Payment Transfer> Start> Select a payment type eg. Instalment payment>Select an instalment year> check off your payment> Next> Select a transfer destination
      • Tax Balance Owing
      • Transfer from individual to business account – if you have GST owing
      • Other individual’s account eg. Spouse
      • Instalments
      • Benefits (GSTC, CCB, etc)

Other cool features:

  • Request payment tracing
    • Made a payment and not sure where it went? Go to Payment Trace option under Make an Online Request 
    • search for the amount you paid by the following criteria
      • The Payment Amount
      • The payment year 
      • Payment Method
      • Phone Number
  • Request a statement of account
    • Check your balance owing:
      • To check where you allocated your initial payment, click into the Statement of account: “Account balance and statement of account” (Just above the “Make an Online Request” feature.
      • Account Type: Income Tax and view all your payments
      • See your balance owing
  • Refund available payments or instalment payments

Now that we put taxes on your brain, you might be thinking about the 2024 tax season! 

Get in touch with us and we will add you to our tax reminder list to ensure you do not miss any filing deadlines!

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