How to Open a New Msn Email Account
CRA My Account is the online service available on the Canada Revenue Agency's website that gives you secure access to your personal or business income tax information.
The process for opening a Canada Revenue Agency (CRA) My Account and getting your CRA security code is easy and we show you how in this article.
Want to make your life easier with hassle-free access to your tax and benefits information? Consider registering for a CRA My Account today.
Benefits of a CRA My Account
Except for when the website is undergoing daily maintenance, the online My Account service is pretty much always available and can be accessed 21 hours a day, 7 days a week.
It is a much easier way to get your information than having to call CRA and waiting to speak (sometimes for very long) to a representative.
The information and benefits you can access directly via your account will vary depending on the type of account.
Benefits for Individual CRA My Accounts
- View/print your income tax returns and notice of assessments (current and prior years)
- View/print your tax information including T4, T4A, T4A(P), T4E, T4(OAS), T5, etc.
- Change your tax return
- Track your tax refund
- Apply for and view your child benefits such as the Canada Child Benefit
- Check your RRSP deduction limit and TFSA contribution room
- View your Home Buyers' Plan (HBP) and Lifelong Learning Plan statements of account
- View mails from CRA
- View your GST/HST credit, if applicable
- Update personal information including your address, phone number, marital status, and banking information
- Use the "Auto-fill my return" service when filing your tax return
- Submit documents to CRA
- View your disability tax credit, if applicable
- Apply for direct deposit to your bank account
- View your account balance and statement of account
- Set up a payment plan, if owing taxes
- Authorize a representative, and much more!
Related: TurboTax: Filing Your Tax Return The Easy Way in Canada
Benefits for Business Accounts
If you have a business, the account can allow you to access lots of information relating to your business including tax returns for GST/HST, payroll deductions, corporate income tax, excise duty, excise tax, information returns, and lots more.
Registering a CRA My Account for Individuals
Option 1
Setting up a CRA My Account is easy. To start, make sure you have the following information available:
- Your social insurance number
- Your date of birth
- Your postal code
- Your last two tax returns i.e. for the current year and the previous one. It will require you to enter an amount you have entered on one of these returns.
When you have gathered the information above, proceed to the CRA My Account web page here.
⇒ Click on the "CRA register" button
⇒ Enter your social insurance number, and click on Next.
⇒ Validate your identity by completing all the required fields and then click Next.
⇒ Create a user ID and Password
After creating an acceptable user ID and password (may require a few tries!), you will be required to create security questions and answers on the next screen.
Your account is now created and you can access limited tax information on your "My Account."
For full and uninhibited access to your account, CRA will mail you via Canada Post a security code which you will need to enter online when prompted after log-in. Afterward, you will only need your CRA user ID and password to access your account.
Option 2
A second optionfor accessing CRA My Account is to use a Sign-in Partner .
For this option, you need to log in via one of the listed financial institutions using your normal log-in details.
As I mentioned for Option 1, you will also be required to have your social insurance number, date of birth, postal code, and last two tax returns readily available.
A CRA security code will be mailed to you as well to enable full access to My Account. Upon receipt of the security code, log in as usual through the Sign-in Partner and enter the security code when prompted. You should now have full access.
For a free CRA Business My Account, you need to follow similar steps, except that you will also be required to enter your business number.
So there you have it! You can now create your CRA My Account, and start enjoying its many benefits!
Also Read:
- 15 Best Budgeting and Personal Finance Apps
- 10 Ways To Get Free Starbucks
- Increase your Canada Child Benefit by making an RRSP contribution
- TFSA vs. RRSP: Factors to Consider
- RRSP Over-Contribution Penalty
- 77 Work From Home Jobs for Canadians
Are you planning to file your tax return electronically this tax season? Try TurboTax ( 20% discount link ).
How to Open a New Msn Email Account
Source: https://www.savvynewcanadians.com/how-to-open-a-cra-my-account/