Pre-Authorized Debit Agreement with the CRA
If you have a balance owing for your 2016 income taxes, you can now authorize CRA to withdraw the funds from your bank account, on a specific date by providing your banking information on your income tax return. This is a great option for individuals always on-the-go, or on vacation at time of filing, as the payment will be automatically collected by the CRA on a specified date of your choice.
This is a one-time payment only and the CRA will not withdraw any other funds from your bank account.
The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions in a newsletter such as this, a further review should be done by a qualified professional.
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