How To How to

Paying business taxes online is as easy as 1, 2, 3

Learn about a convenient way to report and remit your business taxes online.

Joseph Campagna Mar. 07, 2023 4-minute read

Note: For the 2022 tax year, the Canada Revenue Agency (CRA) tax-filing deadline for most individuals is on or before May 1, 2023. If you or your spouse or common law-partner are self-employed as sole proprietors or in partnerships, you have until June 15, 2023 to file your personal tax return. However, any balance owing is due on or before May 1, 2023.

Corporations have to file corporate taxes 6 months after the end of the corporation’s tax year and pay in monthly or quarterly installments. Businesses also need to remit and file other provincial and federal taxes such as HST, GST, PST and payroll source deductions, and pay in monthly, quarterly or annual installments. If you’ve ever forgotten to file your business taxes on time, you know the federal or provincial government charges a late payment penalty fee.

CIBC’s Government Payment and Filing Service (GPFS) is a convenient way to report and remit federal and provincial business taxes. There are no set-up or monthly fees to use GPFS, and it complements the services that come with your CIBC Business Operating Account.

Pay on time, anytime with GPFS

Easily pay more than 60 federal and provincial taxes anytime, using CIBC Online Banking®. Refer to the list of available provincial and federal recipients.
You can pay from any Canadian dollar bank account attached to your CIBC Business Banking Convenience Card. Funds must be available in your bank account.
Pay a small fee of $2 per filing.
Enter and approve payments by 11:15 pm ET, up to one business day before they’re due.
Modify or cancel payments until 11:59 pm ET on the calendar day before the due date. The GPFS system processes payments overnight the same or next business day. It saves your payment history for 13 months.
You can future-date tax payments up to one year before the due date.

How GPFS can save you time and money

With GPFS, you don’t need to mail cheques or visit a CIBC Banking Centre to pay taxes. The time you save by filing and paying online could be invested in growing your business. And by avoiding late payment charges due to mail delays, you could also save your business money.

How to enroll in GPFS

If your business requires one person to sign cheques and you’re registered for online banking:

Using your CIBC Business Banking Convenience Card, sign on to CIBC Online Banking Opens in a new window..
From the menu, select Pay and File Taxes.
Read the legal agreement and accept the terms and conditions of the service.
Enter your information and select Enroll.
After you enroll, you can use the service immediately.

If you hold a CIBC Business Banking Convenience Card and would like to register for online banking, you can:

Register to bank your way Opens in a new window.
Contact your CIBC business advisor Opens in a new window.
Call CIBC Telephone Banking at 1-800-465-2422 Opens your phone app.

If you don’t use online banking, or if your business requires more than one person to sign cheques, register for the GPFS Direct Online Portal.

Contact your business advisor or call CIBC Telephone Banking at 1-800-465-2422 Opens your phone app..
After you enroll, you’ll receive a welcome email with your CIBC GPFS ID and a separate email with your temporary password.
Go to the GPFS Direct Online Portal Opens in a new window..
Enter your CIBC GPFS ID and temporary password, and select Sign On.
The first time you sign on, the Change Password screen appears. Follow the instructions to change your password.

Need help using GPFS?

Read the CIBC GPFS Reference Guide (PDF, 3.2 MB) Opens in a new window.
Call the Payment and Filing Help Desk at 1-800-206-9444 Opens your phone app..

Simplify your cash management

Consider opening a CIBC Business Investment Growth Account. You can use the account to park funds for upcoming tax payments. By setting money aside, you can better project your cash flow. Plus, you’ll earn interest on the funds you set aside.

Want to get your business CRA payments and benefits quickly and securely? Set up Canada Revenue Agency (CRA) direct deposit.

To discuss your Business Banking needs

Book a chat with one of our advisors. They can help set you up for success, today and into the future.

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Written By
Joseph Campagna

Joseph Campagna is a CIBC Business Banking professional with expertise in deposits, cash management and credit. He has extensive experience developing relationships, providing advice and helping Business and Commercial Banking clients achieve their financial goals.

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