My Business Account (CRA)

A seller or buyer meets My Business Account when the CRA accounts of a business have to be checked, handed over or opened up to an adviser. The CRA’s digital services page directs business owners to it, and directs those acting for a business, as an employee or representative, to Represent a Client.

What it does

The same page lists what can be done online across the CRA’s digital services for businesses, including filing returns such as the T4 and the T2, making payments, and viewing account balances and transactions. The CRA says that people who report business income on a personal return use My Account instead. Its representative pages say that in the Profile section of My Business Account the owner can select Manage authorized representatives, to see and add the people authorized on the business account.

What to ask

• Who has access to the account and who is an authorized representative.
• What the account shows for balances, filings and correspondence.
• What access the seller will remove or the buyer will need at closing.

See what happens to the CRA business number and accounts after a sale and authorize a representative.