There are a couple new features of note for the CRA My Account this year already
(check back for more as 2020 continues)
Starting in February 2020, the CRA soft launched a new feature in CRA My Account. In an effort to help tax payers collect on money they’ve been sent but did not cash, for whatever the reason, the new “Uncashed Cheques” link in the Related Services Section, will advise you if there is any money owed to you. Don’t be disappointed if there is nothing there for you…if like many, you’ve signed up for direct deposit, odds are you didn’t have the opportunity for a missed payment.
This “surprise” payment is to many like finding $50 in last year’s winter coat, unexpected and a pleasant surprise; for others, this could even be thousands of dollars of unexpected payments waiting to be collected. No matter the amount, you don’t want to miss out on payments or refunds as then you’re missing out on spending (or investing) your own money. Happily, this new feature will start putting that money back into our pockets and keep us informed if payments have gone missing.
Why might you have money owing to you here?
- You are not set up for direct deposit for quick payments
- You moved and didn’t update the CRA and a payment or refund was issued
- Cheque was lost, stolen, or destroyed
Government cheques never stale date, meaning they can be cashed no matter how old they are, unlike a personal cheque; the issue is, if you don’t have the cheque, you can’t cash it. Now, we can get those missing funds reissued with a few clicks.
How do you find out what is owed to you?
- Log into your CRA My Account
- If you don’t have access yet, sign up by visiting HERE
- In Overview, under Related Services, select Uncashed Cheques
If you have uncashed cheques, follow the instructions provided to have the payments reissued.
Tip! Going forward set up direct deposit so you don’t have to worry about missing or losing a payment. Refunds are received faster and you won’t be missing out on earning interest on your money or putting it to good use.
BC Services Card
The BC Services Card identification can now be used as a credential to log into your CRA My Account. This card is provided by the BC government for access to government services.
Even if you already have an existing CRA My Account log in, you can use that, or, for BC residents, you can now also use your BC Services Card.
If you don’t have a CRA My Account set up yet, do so HERE.
Accounting educator, business strategist, and advisor.
Turbo Tax Canada blog editor and writer.
Susan has been an accounting professional for over 20 years, and has been working with businesses and individuals and their taxes for the past 12. Education is a passion for Susan, and when not writing or talking about tax for TurboTax Canada, she can be found speaking at events, teaching at Mohawk College, and working with many businesses and entrepreneurs through her own accounting advisory practice. Susan is known to be approachable but pulls no punches when it comes to the reality of business finance and taxes.