Wire transfer (if you don’t reside in Canada or don’t have a Canadian bank account) Pre-authorized debit (PAD) via your online banking portalĬRA My Payment via Interac (debit card only) Third-party card processors (credit or debit card, PayPal, or Interac e-Transfer) After all, the CRA wants to get paid.įor reference, here’s a comprehensive list of how individuals can pay taxes to the CRA. Thankfully, the Canada Revenue Agency makes it incredibly easy for taxpayers to pay their debts. Below, I’ll discuss some of the pros and cons of paying the CRA with your credit card and outline some of the best alternatives.
However, there are also some considerable drawbacks to take into account. Paying your taxes off with a credit card could work to your benefit. Are you debating whether you should pay your taxes off with a credit card? This year, more than 6.5 million Canadians owe taxes, with an average balance of $6,990, according to the CRA’s 2023 personal income tax return statistics.
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