Paying Income Taxes with PayPal
Tax season is upon us which means millions of Canadians are getting ready to file and pay their personal income taxes with the Canada Revenue Agency (CRA) by the April 30th deadline while self-employed individuals (independent contractors) gear up to file their taxes by June 15th.
 
Fact: More than 80 per cent of Canadians pay for their federal taxes online, according to the CRA[i].
 
Paying taxes can be stressful.  Through our collaboration with Payment Source[ii], we’ve made it easier for Canadians to pay their taxes with PayPal to the CRA. More than 6.5 million active PayPal Canada customer account holders can now use their bank account, credit card, Visa debit card or the balance in their account to pay their federal taxes. Visit paysimply.ca/paypal to learn more.
 
Benefits of paying your taxes with PayPal include:
 
1.Trusted way to pay taxes online
PayPal doesn’t shares our customers' financial information with merchants[RC(2], so your payment information is protected.
 
2.Earn credit card rewards
You can pay your taxes with your credit card associated with your PayPal account and you can collect rewards points from your pre-existing credit card loyalty program[iii].
 
3.Canadians abroad can now stay on top of paying taxes online
About 2.8 million Canadian citizens live abroad[iv]. Canadian expatriates who have to file their taxes and owe money to the government can now use PayPal.
 
4.Use your PayPal balance
More than 250,000 Canadian small businesses use PayPal. Now, these entrepreneurs can simply use the existing balance in their PayPal account to pay income taxes, creating a seamless flow for busy business owners.
 
Our goal at PayPal is to make the movement and management of money easier for people and business owners. Making it easier for you to pay your taxes with PayPal is one of the many ways in which we are helping people take better control of their money.
 
[ii]All payments made to the CRA using PayPal are completed on Payment Source’s PaySimply billing platform. A PaySimply convenience fee of 2.29% will apply. PayPal is not responsible for the transfer of funds directly to the CRA.
[iii]Issuer rewards program is subject to the issuer’s rewards program terms and conditions.
 
 

Ryan May, Head of Technology and Business Solution, PayPal Canada

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