Setting Up Direct Deposit

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direct_deposit_logo2-300x161The Government of Canada (CRA) is switching to direct deposit payments. They had originally published a deadline of April 2016 to stop issuing cheques, but have since removed the deadline. They do however continue to strongly encourage all taxpayers to enrol in direct deposit. This includes cheques issued for refunds, GST/HST credits, Old Age Security and Pensions.

If you have already provided your bank information to the CRA, they will continue to use that information for future payments to you. If you have not yet done so, you can fill out a “Direct Deposit Enrollment Form” available on their website and mail it to the address indicated on the form, or your accountant can easily fill one out and submit it on your behalf when filing your 2014 tax return.