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Reality Cheque: Canada Revenue Agency's New Electronic Payment Mandate (Sponsored by Telpay)
Starting January 1, 2024, there is a significant change in how businesses can make payments or remittances to the Canada Revenue Agency (CRA).
What You Need to Know:
- New Electronic Payment Requirement:For transactions exceeding $10,000, electronic payments are now mandatory. This change aims to streamline processing and enhance security.
- Penalty for Non-Compliance:If payments are made non-electronically for amounts over $10,000, the CRA may impose a penalty of $100. Learn more at “Payments to the CRA” page for comprehensive information and guidance
Send Electronic Payments to the CRA and Government Remittance with Telpay
As CRA payment requirements evolve, utilizing solutions like Telpay becomes crucial for ensuring compliance, saving money, and addressing payment workflow challenges. Telpay simplifies the process, by making electronic payments to the CRA and other government remittances easier than ever.
- Built-in Required Forms:No more hassle with paperwork! Telpay takes the stress out of the process by including all necessary CRA forms within the platform. This means you can complete your payments and required documentation in one go, saving you time and reducing the risk of errors.
- Convenience at Your Fingertips:Whether you’re in the office or on the go, make payments from anywhere, whenever.
- Security and Trust:Rely on Telpay’s secure system for all your transactions. Your financial information is handled with the utmost care, giving you peace of mind as you navigate the electronic landscape of CRA payments.
- Maximize Efficiency:Leverage Telpay's comprehensive platform for everything from making payments to vendors and suppliers to collecting recurring payments with pre-authorized debits.
Get Started with Telpay
Embrace the CRA change with confidence. Schedule a call with Telpay to learn how to streamline your switch to electronic CRA payments, ensuring compliance and peace of mind.
Book here - https://calendly.com/telpay-sales-team/cra