Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 2/14/2014

Canada - Refunds by cheque phased out by 2016 

February 14:  The Canada Revenue Agency (CRA) announced it will stop using cheques to make refunds by April 2016.

Businesses are being encouraged to sign up for direct deposit.


Even if a business rarely receives refunds, switching to direct deposit may be worthwhile if the business is eligible for:


  • Corporation installment overpayments
  • Hiring credit for small businesses
  • Goods and services GST/HST refunds or rebates
  • Canada pension plan (CPP) and employment insurance (EI) overpayments

Read a February 2014 report prepared by the KPMG member firm in Canada: CRA Announces Cheque Phase Out by April 2016




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Washington, DC 20006.

 

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