Paying Business Taxes

Paying taxes is never fun, but it can be easy. At Coast Capital Savings, we can help you pay your business taxes.

Payroll and Source Deduction

If your business has employees that receive pay or salary, then CRA rules will require that you deduct Canada Pension Plan (CPP), Employment Insurance (EI) premiums and income tax. Based on the total amount deducted from all your employees, your business will have a different schedule for remittance.

To remit your Payroll and Source Deduction, log into Coast Online Banking, select Bill Payments, then Pay Business Taxes. Add your business payroll account number, and then select the Remit button and follow the onscreen options.

Visit any Coast Capital Savings branch to make your payment. You’ll need to bring your original remittance voucher, since we’re not able to accept photocopies.

If you prefer to mail your payment, make your cheque payable to the Receiver General and follow the instructions here.

Provincial Sales Tax (PST)

If you collect PST in BC, you will be required to remit collected PST to the government based on your remittance schedule. To pay your PST, you will first need to register for a PST number with the BC government. Ensure that you File your PST remittance by mail or through the BC Government’s eTaxBC website, or your payment will not be applied to your account.

Paying your PST is as simple as adding “BC PROV SALES TAX” as a bill payment vendor in Coast Online Banking. Use your PST Account Number when you register the bill payment vendor.

Alternatively you can use the BC Government’s eTax website to process your payment.

Pay in person:
Visit any Coast Capital Savings branch to make your payment.

• If you don’t have a PST vendor set up on your membership, bring in your personalized PST Remittance slip.
• If you have a PST vendor set up, you’re good to go - there is no need to bring in a remittance slip.

Pay by mail:
If you prefer to mail your payment, make your cheque payable to the Minister of Finance, and follow the instructions here.

Goods & Services Tax (GST)

If you collect GST, you will be required to file and/or remit collected GST to the CRA based on rules on the CRA’s website. If you’re using Coast Online Banking, be sure to use the correct form to file GST and/or remit payments.

• GST/HST 34: Files your GST return with CRA, with an option to remit a payment.
• GST/HST Amount Owing: Remits a GST payment for an amount previously owed.
• GST/HST Interim Payment: Select this option to remit an interim GST payment.

To pay your business’ GST, log into Coast Online Banking, select Bill Payments, then Pay Business Taxes. 

Visit any Coast Capital Savings branch to make your payment. You’ll need to bring a personalized remittance voucher to make a payment.

To mail your return and file a remittance, please follow the instructions on this CRA site.

Corporation Tax

Every year corporations are required to pay their taxes according to the rules on the CRA’s Corporate Tax site. If you’re using Coast Online Banking, be sure to select the correct Payment Type option when you Remit your payment to CRA. Selecting the wrong option might lead to penalties and just like in hockey that’s not a good thing.

• Instalment: Select this option to remit an instalment payment.
• Arrears/Amount Owing: Remits a payment for an amount previously owed, such as a prior tax year.
• Payment on Filing: Use this option if you’ve just filed your taxes and want to make a payment.

To pay your Corporation Tax, log into Coast Online Banking, select Bill Payments, then Pay Business Taxes. Add your business account number, and then select the Remit button and follow the onscreen options.

Visit any Coast Capital Savings branch to make your payment. You’ll need to bring a personalized remittance voucher to make a payment. If you prefer to mail your payment, make your cheque payable to the Receiver General and follow the instructions here.