TAX TIP Making changes to your business? The Canada Revenue Agency is here to help!
Sunday, 20 March 2022 04:46.PM
The Canada Revenue Agency (CRA) understands that many businesses are going through changes as they recover from the COVID-19 pandemic. We are available, year round, to help small and medium businesses with their unique needs. As you go through business changes, you may face different requirements as you manage your tax affairs. We are here to help.
Make updates online
Visit the Changes to your business and Canada Revenue Agency program accounts page to get the information you need for your next steps when your business is going through changes. You can easily make some business changes online through My Business Account, a service that will protect your information as it is more secure.
Here are some updates you can make online:
• Authorize a representative
• Change a business address
• Change a business operating name
• Manage owner phone number
• Manage notification preferences to add or change an email
Save time when updating your business changes by signing up for My Business Account.
Getting back to business
As Canada continues to recover from the COVID-19 pandemic, businesses are resuming operations. When you resume your business operations, depending on your situation, you may need to contact us:
• When you decide to re-open a business account, including a payroll or GST/HST account, and the legal entity has not changed – all you need to do is ask by calling us at 1-800-959-5525 (note that you may be asked to provide additional information to confirm your identity if you phone in.)
• If the legal entity has changed – we consider you to be a new business and you will need to register for a new business number and new program accounts.
• If you dissolved a corporation and would like to re-open a Corporate Income Tax account – you must send articles of revival to your tax services office. To find your office go to Tax services office and tax centres. Reviving a corporation is not a change in the legal entity.
Other changes the CRA needs to know about
The CRA gets thousands of questions each year from businesses looking for help as they change. Our Changes to your business and Canada Revenue Agency program accounts will give you information on what the CRA needs in many common situations, such as:
• Administrative changes - Among other things, you have to contact the CRA if you want to change your fiscal year-end, the name or address of your business or the business activity you're engaged in. You'll also have to inform the CRA whenever one of the owners, partners or directors of your business changes. You can also contact us to update your phone number and email address.
• Growing your business – Information is available on the tax implications of buying a business, opening more branches, locations and divisions; bringing personal assets into your business; adding CRA program accounts to your business number, and more.
• Changes to business operations – Find out what the CRA needs if you are looking to temporarily stop business operations or sell your business, close CRA program accounts; file for bankruptcy or enter into receivership; if there has been a retirement or death of business owner or partner, and more.
Liaison Officer service
The CRA offers a free Liaison Officer service to owners of small businesses and self-employed individuals to help them understand their business tax obligations. The CRA has many products and services tailored for these businesses. Our Liaison Officers are available year round to guide you through these over the phone and/or through videoconference. The information you choose to discuss with a Liaison Officer will not be shared with other areas of the CRA, or anyone else.
You can request a visit from a Liaison Officer using our online request form.
SOURCE: Canada Revenue Agency
-
Related materials:
- 18-Sep-2024 10:23 AM 📒🇨🇦🍁 Using an App or Website to Earn Income? Here's What You Need to Know About the Reporting Rules for Digital Platform Operators 💵
- 16-Sep-2024 12:00 PM 📒🇨🇦🍁 Making Changes to Your Business? The Canada Revenue Agency is Here to Help! 💵
- 18-Jul-2024 04:58 PM 🍁🏙️💵 City Of Toronto's Tax & Utility Relief Programs Provide Support for Low-Income Seniors and Low-Income People Living with Disabilities
- 21-Jun-2024 06:40 PM 📒🇨🇦🍁 Budget 2024 Government of Canada Launches the First Clean Economy Investment Tax Credits 💚💵
- 16-Jun-2024 10:27 AM 📒🇨🇦🍁 You've Got Questions and We've Got Answers! Here are Answers To Seven of the Top Business Tax Information Questions
- 10-May-2024 04:33 PM 📒🇨🇦🍁 Looking for the Fastest and Easiest Way to View and Manage Your Business Taxes Online? Use Our Digital Services!
- 02-May-2024 06:23 PM 📒🇨🇦🍁 Need to Change Your Tax Return? You Can Do it Online!
- 24-Apr-2024 10:21 AM ⚕️💵🚬 Canadian Cancer Society Commends Tobacco Tax And E-Cigarette Tax Increases In Federal Budget 🚭
- 23-Apr-2024 04:28 PM 💵 New Canada Carbon Rebate Estimator Tells You How Much You May Get Back in Payments Starting April 15
- 20-Apr-2024 02:33 PM 📒🇨🇦🍁 The Canada Revenue Agency Has Options for You if You Owe Us Money or Have a Debt That We Collect for Another Government Department
- 19-Apr-2024 06:33 PM 📒🇨🇦🍁 Top 10 Tips for Your Platform Economy Tax Obligations
- 19-Apr-2024 04:24 PM 📒🇨🇦🍁 Reporting Your Capital Gains as a Crypto-Asset User
- 19-Apr-2024 02:34 PM 📒🇨🇦🍁 Are You Self-Employed? The Canada Revenue Agency Can Help You Understand Your Tax Obligations
- 18-Apr-2024 10:19 AM 📒🇨🇦🍁 NEW - Bare Trusts are Exempt from Trust Reporting Requirements for 2023
- 16-Apr-2024 02:27 PM 📒🇨🇦🍁 You Still Have Time - Last-Minute Tips to Help You File Before the Deadline!
- 01-Apr-2024 08:00 AM 💵 Keep The Cash, Care for Climate: Canada Carbon Rebates Being Paid Next Month
- 28-Mar-2024 10:33 AM 📒🇨🇦🍁 Vast Majority of Canadian Businesses Want Fast-Tracking of Clean Energy Tax Credits 🤝💰🤑
- 21-Dec-2023 02:37 PM 📒🇨🇦🍁 Businesses: Here Are the Top Changes this Year that Will Affect Business Taxes in 2024
- 19-Oct-2023 12:00 PM 📒🇨🇦🍁 Did You Know that there are Business Services that Can Make it Faster and Easier for You to Meet Your Tax Obligations?
- 14-Oct-2023 06:33 PM 📒⚠️ Warning: Watch Out for Tax Schemes Involving Multilevel Marketing Businesses!
- 20-Jul-2023 10:21 AM Taxpayers' Ombudsperson Requests That the Canada Revenue Agency Make Improvements to Respect Canadians' Right to Be Represented by a Person of Their Choice
- 05-Jul-2023 02:34 PM TAX TIP Get ready: the CRA is in its summertime benefit period!
- 19-Jun-2023 02:23 PM TAX TIP Applying for the Disability Tax Credit is Easy With Our New Digital Form
- 13-Jun-2023 02:46 PM TAX TIP June 15, 2023, is the Deadline for Self-Employed Individuals to File Their 2022 Income Tax and Benefit Return
- 18-May-2023 12:00 PM ONTARIO JOBS 💵 Moving Forward with Building a Strong Ontario
- 03-Apr-2023 04:33 PM TAX TIP CRA Debt Recovery Activities May Impact Upcoming Benefit, Credit, and Refund Payments
- 27-Mar-2023 10:21 AM TAX TIP Voices Prepares Voice Actors for Tax Season With Tax Education Campaign
- 26-Mar-2023 02:23 PM TAX TIP Valuing Your Cryptocurrency
- 23-Mar-2023 10:21 AM TAX TIP The CRA Would Like to Remind You That it Has Resumed Debt Recovery Activities; Here's How it May Impact Your Benefit, Credit, and Refund Payments
- 21-Mar-2023 02:33 PM TAX TIP 💵🏠 Less Than Two Weeks to Apply For $500 One-Time Top-Up
- 21-Mar-2023 12:00 PM TAX TIP Do You Work in the Sharing Economy? Here's What You Need to Know
- 18-Mar-2023 10:15 AM TAX TIP Confirm My Representative is Now Available for Business Owners
- 14-Mar-2023 08:20 PM TAX TIP Thinking of Calling Us? Before You Do, Find The Answers You Need for Tax-Filing Season!
- 12-Mar-2023 08:29 PM TAX TIP Ready to File Your Taxes? Here's Why You Should Go Digital
- 13-Feb-2023 02:22 PM TAX TIP Were You Invited to File Your Taxes Over the Phone?
- 09-Feb-2023 08:00 AM TAX TIP Electronic Filing Of Special Elections And Returns Is Now Available
- 30-Jan-2023 06:40 PM 📒🇨🇦🍁Taxpayers' Ombudsperson Recommends Ways To Improve Communication From The Canada Revenue Agency
- 24-Jan-2023 04:18 PM TAX TIP Seniors: We've Got Tips To Help You This Tax Season!
- 19-Jan-2023 04:28 PM TAX TIP Here's what you need to know if you're filing your taxes by paper
- 16-Dec-2022 02:39 PM Budget 2021 The Government Of Canada Launches Formal Consultations To Streamline Reporting Of Payroll Information
- 04-Nov-2022 10:43 AM TAX TIP Six month doubling of GST credit payment starts November 4, 2022
- 03-Sep-2022 10:22 AM Government of Canada Strengthens Access to Sexual and Reproductive Health Services for Youth
- 25-Aug-2022 02:20 PM TAX TIP Do You Have Questions About Filing As A Business For The First Time? The CRA Is Here To Help
- 05-Aug-2022 08:00 AM TAX TIP Here Are Answers To Five Of The Top Business Tax Information Questions
- 16-Jul-2022 08:00 AM TAX TIP Do you have questions about filing as a business for the first time? The CRA is here to help
- 21-Jun-2022 11:14 AM City of Toronto issues 2022 final property tax bills
- 03-Jun-2022 08:00 AM TAX TIP June 15, 2022, is the deadline for self-employed individuals to file their 2021 income tax and benefit return
- 17-Apr-2022 08:00 AM TAX TIP Businesses: Protect yourself from scams and fraud - know what to expect from the CRA
- 15-Apr-2022 02:22 PM TAX TIP Are you self-employed? The Canada Revenue Agency can help you understand your tax obligations
- 13-Apr-2022 12:00 PM TAX TIP How to find help if you can't pay your taxes
- 01-Apr-2022 10:22 AM TAX TIP Did you buy, build, sell or renovate a home in 2021? Here's what you need to know
- 28-Mar-2022 02:02 PM TAX TIP Make sure you maximize the benefits you are entitled to if you are First Nations, Inuit, or Métis
- 27-Mar-2022 12:00 PM TAX TIP It's tax time! You've got questions? We've got answers
- 26-Mar-2022 10:59 AM TAX TIP Do you work in the gig economy? Here's what you need to know
- 23-Mar-2022 04:22 PM TAX TIP How to verify the CRA has contacted you
- 21-Mar-2022 04:33 PM TAX TIP Do you work in the sharing economy? Here's what you need to know
- 19-Mar-2022 10:23 AM TAX TIP Are you a peer-to-peer seller? Here's what you need to know
- 17-Mar-2022 08:38 PM TAX TIP Are you a social media influencer? Here's what you need to know
- 15-Mar-2022 12:00 PM TAX TIP Before you call: Find the answers you need for the 2022 tax-filing season
- 10-Mar-2022 10:22 AM TAX TIP Small and medium business audits: What you need to know
- 11-Feb-2022 12:00 PM TAX TIP Avoid last minute delays at tax time by setting up My Account
- 07-Feb-2022 02:27 PM TAX TIP Investing in cryptocurrency
- 27-Jan-2022 06:33 PM TAX TIP What is cryptocurrency?
- 25-Jan-2022 12:00 PM TAX TIP Running a business is difficult; understanding your tax obligations
- 30-Nov-2021 08:00 AM TAX TIP Avoid last minute delays at tax time by setting up My Account
- 17-Nov-2021 02:14 PM TAX TIP Understanding the tax-free savings account (TFSA)
- 04-Nov-2021 04:33 PM TAX TIP Canada Revenue Agency announces maximum pensionable earnings for 2022
- 20-Jun-2021 05:33 PM TAX TIP Businesses: Watch out for Canada Emergency Wage Subsidy tax schemes
- 02-Dec-2020 12:00 PM TAX TIP What you should know during times of financial uncertainty
- 01-Sep-2020 02:03 PM TAX TIP Warning to Ontarians: Don't be fooled by the senior homeowners' property tax grant
- 30-Aug-2020 09:07 AM TAX TIP Last call! File your 2019 tax return to keep getting your benefit payments
- 29-Aug-2020 12:02 PM TAX TIP Watch out for offshore leveraged insured annuity schemes
- 28-Aug-2020 05:14 PM TAX TIP Watch out for offshore disability insurance plan schemes
- 13-Mar-2020 10:23 AM TAX TIP New online feature helps you see your uncashed tax cheques