Large business tax obligations can put pressure on working capital. Taxio helps eligible Canadian businesses explore flexible financing options for certain CRA, GST/HST and provincial tax obligations, allowing approved amounts to be managed over time.
Business tax financing is a way for an eligible company to obtain financing to address a significant tax obligation while repaying the financing over a defined period rather than using all available cash at once.
Canadian businesses can face substantial tax payments throughout the year, including corporate income tax, GST/HST remittances, payroll-related obligations and certain provincial taxes.
When a large tax bill arrives, paying the full amount immediately may compete with other important business needs such as payroll, purchasing inventory, servicing equipment, funding projects or maintaining an operating cash reserve.
Rather than treating a tax bill as a single large cash event, an eligible business may choose to finance the obligation and repay the financing over time.
The purpose is not to avoid or delay a legitimate tax obligation. Instead, financing may allow the business to address the eligible tax payment while managing the impact on working capital.
Taxio provides a simple way for Canadian business owners to submit basic information about their company and tax obligation and find out whether financing options may be available.
Tell us about your business and tax obligation. The Taxio eligibility request only takes a few minutes.
Check your eligibilityEligibility depends on the business, the specific obligation, available documentation and underwriting approval.
The process starts with a short eligibility request.
Provide basic company information including your province, years in business, industry and approximate revenue.
Let us know the type of business tax, approximate amount owing and when the obligation is due.
If the request meets initial eligibility requirements, the next step is reviewing potential financing options and documentation.
Depending on eligibility and approval, Taxio may offer access to financing structured over several possible repayment periods.
Financing a tax obligation is not the right choice for every company, but there are situations where preserving liquidity may be valuable.
A business may be profitable while still experiencing a mismatch between the timing of cash receipts and a significant tax payment.
Using a large portion of available cash for taxes may leave less liquidity for payroll, materials, inventory, equipment repairs or other operating expenses.
A structured repayment schedule can make it easier to forecast cash flow compared with absorbing one large payment at once.
Businesses may also be able to discuss payment arrangements directly with the CRA or the applicable government authority. The appropriate option depends on your circumstances, cost, timing and eligibility.
These are different approaches to managing a business tax obligation.
The Canada Revenue Agency may allow certain taxpayers to arrange payments over time based on their circumstances. These arrangements are handled directly between the taxpayer and CRA and may involve interest or other requirements.
Taxio is a separate financing option. An eligible business applies for financing, and approved financing is used toward the eligible business tax obligation. The business then repays the financing according to the agreed repayment schedule.
Taxio is not affiliated with, endorsed by or acting on behalf of the Canada Revenue Agency or any federal or provincial government agency.
You can submit an eligibility request to understand whether Taxio may be an available option before deciding how to proceed.
Check eligibilityCommon questions from Canadian business owners.
Depending on the business, the tax obligation and underwriting requirements, financing may be available to help address certain business tax obligations. Approval is not guaranteed and terms vary.
Taxio is designed for eligible Canadian business tax obligations, which may include corporate income tax, GST/HST, certain payroll-related obligations and certain provincial business taxes.
No. Taxio is not an accounting or tax advisory service and does not provide tax, accounting or legal advice. Businesses should consult their accountant, tax advisor or other professional for advice about their specific tax situation.
No. Taxio is not affiliated with or endorsed by the Canada Revenue Agency or any government department or agency.
Depending on eligibility and the financing option available, repayment periods may include 6, 9, 12 or 18 months.
No. An eligibility request is only the first step. Any financing option is subject to underwriting, documentation, eligibility and final approval.
If your business has a significant tax obligation, find out whether flexible financing options may be available.
Check your eligibility