Would you like to know when your next Canada Child Benefit (CCB) payment is arriving?
Do you need to update your direct deposit details?
Curious as to how much you have contributed to your RRSP?
All of this information, and much more, is available for you and is just a click away through the Canada Revenue Agency (CRA)’s My Account Service.
Here are the benefits of registering for a CRA My Account.
All Things Tax-Related
Why call CRA when you can view much of your tax info securely online?
CRA My Account holders can:
- View and make changes to past returns.
- Check RRSP contribution limits.
- Keep track of unused amounts for tuition, losses, etc.
- View Home Buyers’ Plan and Lifelong Learning Plan repayment amounts and balances.
- Use your CRA My Account to set up pre-authorized debit if you’re paying tax by installments or if you have set up a payment arrangement for taxes owing.
- If you are applying for a mortgage and are required to provide an Option C statement, no need to call the CRA and order one, when you can log into your My Account, and print it in your home instead.
Updates to your direct deposit details or marital status are easy if you’re a CRA My Account holder. Address changes performed via CRA My Account take effect immediately, which is especially important during tax season. The address the CRA has on their files for you must match the address listed on your return to be able to file electronically with NETFILE.
Make Tax Time a Breeze with Auto-fill my return
Wouldn’t it be nice if you could just press a button and have much of your tax info loaded right into your return, in the right boxes? With the CRA’s Auto-fill my return service, you can import you tax data from your T-slips, RRSP contributions and much more. To be able to take advantage of this feature, you must be a CRA My Account holder.
For more details on that feature, check out our tax tip: Auto-fill my return.
More than Just Taxes
With the CRA My Account, you can review dates and payment amounts for benefits programs including;
- Ontario Trillium Benefit for those living there, here are all other provinces & territory credits you will be able to access as well.
- GST/HST Credit
- Canada Child Benefit
- Working Income Tax Benefit which is now called Canada Workers Benefit
- Your Tax-Free Savings Account (TFSA) info is also accessible via your CRA’s My Account. View your contribution room and past contributions instantly online.
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