Please remember this is a user-to-user community that relies on member participation. We encourage you to ask questions AND share your own thoughts, experience and advice.
when filing the T2 electronically and there is a balance owing how is the client to pay the balance? As CRA no longer provides non-personalized corporate installments forms this option appears to be gone? In my opinion, if the client has to mail the payment in with a letter we might as well go back to paper filing the returns.
Page 1 of 1
E-filing T2
MultiQuote
#2
RL Tax Joe 
- Professional Member
-
- Group: Members
- Posts: 500
- Joined: 26-February 07
- Gender:Male
Posted 06 April 2007 - 07:33 PM
Send a cheque in the mail with a note stating what period it is for. Put the account number and the year end date on the cheque.
Although, it doesn't really matter, they will still post it to the wrong place. Just call in a few months after receiving the undisputed amount notice and they will gladely move it to the correct spot and remove the interest.
Although, it doesn't really matter, they will still post it to the wrong place. Just call in a few months after receiving the undisputed amount notice and they will gladely move it to the correct spot and remove the interest.
#3 Guest_snowplowguy_*
Posted 06 April 2007 - 07:36 PM
You should get the T2 Notice of Assessment within 10 days of Efiling..... which includes a corporate remittance voucher. Any balance owing on the Notice of Assessment is good for 20 days from the date on the Notice (ie you have 20 days to make payment of the amount owing without any or further interest).
I usually wait for the corporate NoA then go over to the bank and pay it.
I usually wait for the corporate NoA then go over to the bank and pay it.
#5
unknown
- Top Contributor
-
- Group: QuickBooks Pro Advisor, VOA
- Posts: 3,906
- Joined: 30-November 99
- Gender:Male
- Location:Alberta
-
Interests:Check out the data transfer utility:
http://www.q2q.us/index.htm
Posted 06 April 2007 - 08:36 PM
RL Tax Joe, on Apr 6 2007, 11:33 AM, said:
Send a cheque in the mail with a note stating what period it is for. Put the account number and the year end date on the cheque.
Although, it doesn't really matter, they will still post it to the wrong place. Just call in a few months after receiving the undisputed amount notice and they will gladely move it to the correct spot and remove the interest.
Although, it doesn't really matter, they will still post it to the wrong place. Just call in a few months after receiving the undisputed amount notice and they will gladely move it to the correct spot and remove the interest.
.
You mean, they don't just do this to my clients? Even with a properly completed remittance form, standard practice seems to be to throw it into next year's instalment account
Have one better for you...
Client that likes making his payroll remittances early, end of the month. So 31jan he makes his payment for Jan. They put it into December 2006, and charge him the penalty (even though he already had a Dec. remittance, and PD7A clearly stated jan). Phoned up CRA - the bright light there told me, as standard practice, they always post payroll payments to the previous month. "No matter what the PD7A states, because perhaps that form was completed wrong"
#6 Guest_snowplowguy_*
Posted 06 April 2007 - 08:43 PM
jtcomin, on Apr 6 2007, 03:45 PM, said:
but what about for the guy coming in with only a few days before the payment is due without interest?
Tell him to come in a few days sooner next year........
Seriously though...
I can't say for sure......I haven't had anyone pay interest in a while.... but I think you'll find if the return is efiled prior to the interest added date you'll get the 20 days grace as indicated on the NoA.
If not...... how much cake are we really talking about @ 0.0246575% per diem?
#7
jtcomin
- New Member
-
- Group: Members
- Posts: 27
- Joined: 27-March 06
- Gender:Male
- Location:Alberta
Posted 06 April 2007 - 08:47 PM
snowplowguy, on Apr 6 2007, 02:43 PM, said:
Tell him to come in a few days sooner next year........
Seriously though...
I can't say for sure......I haven't had anyone pay interest in a while.... but I think you'll find if the return is efiled prior to the interest added date you'll get the 20 days grace as indicated on the NoA.
If not...... how much cake are we really talking about @ 0.0246575% per diem?
Seriously though...
I can't say for sure......I haven't had anyone pay interest in a while.... but I think you'll find if the return is efiled prior to the interest added date you'll get the 20 days grace as indicated on the NoA.
If not...... how much cake are we really talking about @ 0.0246575% per diem?
Good point - thanks for the advice!
#8 Guest_snowplowguy_*
Posted 06 April 2007 - 08:50 PM
Bert_Mulder_CGA, on Apr 6 2007, 04:36 PM, said:
Phoned up CRA - the bright light there told me, as standard practice, they always post payroll payments to the previous month. "No matter what the PD7A states, because perhaps that form was completed wrong"
I've had that happen too...... pain in the neck. the worst month for it to happen is December (due by Jan 15th). Penalties (which some people assume are correct and pay) ....... then an overage in the account when you get around to doing the T4's ..... an explanation as to why there is an overage.....lol.
After the identity interrogation they are usually pretty decent about transferring the balance to wherever you tell them.
#9
Joe
- Top Contributor
-
- Group: Members
- Posts: 3,921
- Joined: 01-December 02
Posted 06 April 2007 - 09:17 PM
RL Tax Joe, on Apr 6 2007, 12:33 PM, said:
Although, it doesn't really matter, they will still post it to the wrong place. Just call in a few months after receiving the undisputed amount notice and they will gladely move it to the correct spot and remove the interest.
:lol: Aint that the truth!
Page 1 of 1