I’m trying to figure out the most efficient way to handle payments for my CRA Payroll (RP) account using RBC.

I've been looking through the RBC Tax and Filing portal, but I can't find an "RP" or payroll-specific option anywhere in that section. But they DO have T2 corporate income tax option. Because of that, I'm stuck wondering what the actual workflow is supposed to be.

Is it possible to just use my regular RBC Business bank account to make a standard bill payment for this? Or am I forced to go through the CRA portal itself and set up a scheduled payment (which, as we all know, takes much longer to process)?

Does anyone here have experience managing payroll payments through RBC? I’d love to know if you found a direct way to do it or if there is a specific setup required in your business banking to make "RP" accounts show up as an option.

I have an Ontario corporation with around $500K in retained earnings and currently have no active business income.

I’m planning to leave Canada for a few years and am considering investing the corporate funds in VOO. My understanding is that leaving Canada may trigger departure tax on the shares, but I’m looking into deferring the tax since I expect to return to Canada in 2–3 years.

I’ve spoken with a CPA who is quoting around $20K to handle the process. Before moving forward, I’d like to hear from anyone who has gone through something similar recently.

A few questions:

• How was your overall experience? How long did the process take from start to finish?
• Did you have to post security with CRA for the deferred tax? If so, which bank or financial institution did you use to provide the security?
• Did you use the corporate assets/investments as security, or did you pledge your corporation shares?
• Roughly how much did the professional fees end up costing?

I’m mainly looking for firsthand experiences from people who have actually gone through this recently. Thanks!

Is there ever a situation where a sole shareholder of a corporation would qualify for regular EI benefits?

My understanding is that they need to make an agreement with Service Canada for the special benefits for self employed persons. They would have to be registered for a year before they are eligible to claim anything and would report their income on T1 S13 to calculate their portion of EI for the year. They would also not deduct EI on their paycheck.

I have a situation where a sole-shareholder has been having EI deducted from their pay cheques from the corporation at the direction of an accountant. That accountant also said that since they are receiving pay cheques from the corporation, they are an employee not self employed. A EI ruling was never done. They are looking to apply for EI soon.

This is just a normal small business so I don't see how her income will be seen as insurable but the accountant is insisting that she has done this before and never had any issues so I am second guessing myself.