One of the most common reasons why taxpayers pay online with their credit cards is that the payment is processed instantly. However, the CRA has also partnered with PaySimply - a third-party online payment processor that accepts payments made through PayPal, debit, or credit cards.Īs I mentioned, there are pros and cons to paying your taxes with a credit card. The easiest way to pay your taxes online is through the CRA My Payment system, which can be accessed through your CRA My Account or by paying through your bank account’s online portal. Your bank or financial institution (debit or cheque only)Ĭheque or money order (must have a remittance voucher)ĪDVANTAGES OF PAYING WITH YOUR CREDIT CARD

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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