Paying your 2005 taxes owing

When completing your tax return, you may calculate that you have a balance owing on line 485. Generally, if this amount is $2 or less, you do not have to make a payment.

See My Account for information about your account balance and payments.

Important dates

• We start charging compound daily interest on any outstanding balance for 2005 starting the day after the filing due date, until you pay it in full.
• If you owe tax for 2005, and you file your 2005 tax return after the filing due date, we will charge a late-filing penalty.

When are you paying?

• You can pay before you file your return. If you do, be sure to specify the year for which you want the payment to apply. When you complete your return, claim this amount on Line 476 – Tax paid by instalments.

• You can file your return early and make a post-dated payment. As long as you file your return and pay by April 30, we won't charge interest on your balance owing.

If you filed your return and have received your Notice of Assessment showing a balance owing, see Paying arrears (taxes owed after assessment).

How to make a payment

• Include your account number, which is your social insurance number.
• If you make a payment with a cheque that your financial institution does not honour (including a cheque on which you put a "stop payment"), we will charge you a fee.

Electronically

Whether you file a paper return or you file electronically, you may be able to pay electronically using your financial institution's telephone or internet banking services. Most financial institutions allow you to schedule future-dated payments. See electronic payments or contact your financial institution.

At your financial institution

You can make your payment free of charge at your Canadian financial institution in Canada. Give the teller your completed remittance voucher (included in your personalized tax package) or Form T7DR(A), which you can get from us. The teller will detach and keep the payment part of the remittance form, then stamp and return the rest to you for your records.

By mail

You can attach to the front of your paper return a cheque or money order made out to the Receiver General only if you are filing that return. Or, you can mail a cheque or money order, along with your completed remittance voucher (included in your tax package) or Form T7DR(A), (which you can get from us) to:

Canada Revenue Agency
Ottawa Technology Centre
875 Heron Road
Ottawa, ON K1A 1B1

We accept post-dated cheques.