05 Dec It’s Time to Sign Up for a CRA My Business Account
The Canada Revenue Agency (CRA) has been given a mandate to move towards a “digital by default” process over the next couple of years. This will be through their online portals: My Account (for individuals), My Business Account (for businesses), and Represent a Client (for representatives, like Clearline).
Starting in 2023, the CRA will start pushing their correspondence out to businesses using their My Business Account services, starting with the corporate Notices of Assessment. It is anticipated they will then commence with other CRA correspondence.
What is a My Business Account?
A My Business Account gives directors, officers, and partners access to their corporate taxes, GST, and payroll accounts online. Internal accountants and employees (that are not officers) should instead use the Represent a Client system.
How Does This Affect You?
In anticipation of these changes, we recommend all business owners sign up for a My Business Account. And, we will require all new clients to have a My Business Account. The CRA will no longer grant us authorization to your business accounts online unless you first give us approval to access your My Business Account.
How to Set Up a My Business Account
If you already have a CRA My Account (for personal access), you should be able to sign in to your My Business Account using the same user ID and password.
If not, you will be required to register for an account by setting up a CRA User ID and password, which you can do on this page under Option 2 – Using a CRA User ID and Password. (We recommended using Option 2 to create your account and log in instead of Option 1 – Using One of Our Sign-In Partners.)
If you have any questions, please reach out to your contact at Clearline or get in touch with us.