Corporate Income Tax: Strategies for a Competitive Edge
In today’s dynamic economic environment, understanding corporate income tax is vital for businesses aiming to […]
We’re simplifying things to make source deductions quicker. There’s a new simplified notice of assessment, the payment code is easier to get, and new filing services have been put online.
The notice of assessment now takes into account all facets of a business and will be sent to all businesses, whether they have a balance due or owe $0.
The notice of assessment now also shows how a balance was calculated. You can see exactly when your file was processed.
The payment code has been added directly to the RL-1 summary. You no longer have to take steps to get a code, and you now have a quicker way to pay a balance due online at most financial institutions.
How you see the payment code depends on how the RL-1 summary is filed:
The online services for filing RL-1 slips (see courtesy translation RL-1-T) and RL-1 summaries (RLZ-1.S-V) in My Account for businesses have been modernized. The services are now also available in My Account for professional representatives.
The RL-1 slip filing service now features a dynamic form so the RL-1 summary automatically updates whenever information is entered on an RL-1 slip.
The RL-1 summary filing service can still be used even if the RL-1 slips are prepared and filed using payroll software.
An online service for viewing the previous year’s RL-1 slips and RL-1 summary is also available for RL-1 slips and summaries filed using My Account for businesses or My Account for professional representatives. Whereas access to the documents was previously restricted to the person who had filed them, anyone from the business with the necessary access can now view them.
To access the service, click Source Deductions and Contributions, then RL-1 Slips and RL-1 Summary under the View heading.
Have questions about our online services for your business? Our assistance program for small and medium-sized businesses and the self-employed can help answer them and other questions. New presentations are also available for professional representatives. The program and presentations are available free of charge.
Source Link Making Things Easier for Businesses and Professional Representatives
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