The Canada Revenue Agency (CRA) wants tax bills over $10,000 to be paid by electronic payment.. Cheque and pen .The CRA made the announcement Tuesday, but didn't explain whether it would reject other forms of payment or take legal action against those who use cheques..“I think the Canada Revenue Agency would provide guidance to people,” said Lindsay Gwyer, director general of tax policy with the department of Finance..Testifying at the Commons Finance committee, Gwyer would not discuss enforcement..“I can’t speak to their practices,” said Gwyer..“I assume if there was some reason why it wasn’t possible for a payment to be made, they would potentially work with someone to find a solution.”.Bill C-47 An Act to Implement Certain Provisions of the Budget, the cabinet’s 430-page omnibus budget bill, includes a clause mandating electronic payment of taxes over $10,000..Conservative MP Marty Morantz (Charleswood-St. James, MB) questioned the requirement..“This piece about having to pay electronically over $10,000, what if somebody doesn’t want to do that or doesn’t know how?” asked Morantz..“Why can’t they pay by cheque?”.“I think there are different options in terms of how that payment could be done,” replied Gwyer..“It says it has to be electronically over $10,000; does it have to be or not?” asked Morantz..“It does have to be made electronically,” replied Gwyer..“Changes are intended to make the process more efficient from the perspective of the government and from the Canada Revenue Agency’s perspective,” said Gwyer..“Large payments above $10,000 are required to be made electronically. That’s really intended to increase the efficiency of the tax system.”.According to Blacklock’s Reporter, the CRA on Tuesday would not clarify if it would refuse payment by cheque or designate cheque users as tax delinquents subject to penalties or prosecution..The new Income Tax Regulations is the first attempt to curb the use of cheques since the department of Public Works in 2012 attempted to force all recipients of tax refunds, Old Age Security, the Canada Pension Plan and other federal benefits to surrender their bank account information for direct deposit..Managers defended the proposal as a cost-saving initiative..However, in-house surveys showed 13% to 24% of taxpayers said they would never surrender their bank account information to the Government of Canada..According to federal research, men over 55 were least likely to trust the CRA..Data showed of the 30.5 million tax returns filed in 2021, 2.7 million, or 9%, were filed on paper..A total 4.2 million taxpayers, including internet filers, demanded that refunds be paid by mailed cheque instead of direct deposit.
The Canada Revenue Agency (CRA) wants tax bills over $10,000 to be paid by electronic payment.. Cheque and pen .The CRA made the announcement Tuesday, but didn't explain whether it would reject other forms of payment or take legal action against those who use cheques..“I think the Canada Revenue Agency would provide guidance to people,” said Lindsay Gwyer, director general of tax policy with the department of Finance..Testifying at the Commons Finance committee, Gwyer would not discuss enforcement..“I can’t speak to their practices,” said Gwyer..“I assume if there was some reason why it wasn’t possible for a payment to be made, they would potentially work with someone to find a solution.”.Bill C-47 An Act to Implement Certain Provisions of the Budget, the cabinet’s 430-page omnibus budget bill, includes a clause mandating electronic payment of taxes over $10,000..Conservative MP Marty Morantz (Charleswood-St. James, MB) questioned the requirement..“This piece about having to pay electronically over $10,000, what if somebody doesn’t want to do that or doesn’t know how?” asked Morantz..“Why can’t they pay by cheque?”.“I think there are different options in terms of how that payment could be done,” replied Gwyer..“It says it has to be electronically over $10,000; does it have to be or not?” asked Morantz..“It does have to be made electronically,” replied Gwyer..“Changes are intended to make the process more efficient from the perspective of the government and from the Canada Revenue Agency’s perspective,” said Gwyer..“Large payments above $10,000 are required to be made electronically. That’s really intended to increase the efficiency of the tax system.”.According to Blacklock’s Reporter, the CRA on Tuesday would not clarify if it would refuse payment by cheque or designate cheque users as tax delinquents subject to penalties or prosecution..The new Income Tax Regulations is the first attempt to curb the use of cheques since the department of Public Works in 2012 attempted to force all recipients of tax refunds, Old Age Security, the Canada Pension Plan and other federal benefits to surrender their bank account information for direct deposit..Managers defended the proposal as a cost-saving initiative..However, in-house surveys showed 13% to 24% of taxpayers said they would never surrender their bank account information to the Government of Canada..According to federal research, men over 55 were least likely to trust the CRA..Data showed of the 30.5 million tax returns filed in 2021, 2.7 million, or 9%, were filed on paper..A total 4.2 million taxpayers, including internet filers, demanded that refunds be paid by mailed cheque instead of direct deposit.
