Corporate income tax payments

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Corporations generally pay their income tax in instalments during the year followed by a balance of tax that is paid 2 or 3 months after the end of the tax year depending on your balance-due day.

Instalments are partial payments of the estimated total tax paid throughout the year before the return is due. The Income Tax Act requires corporations to make instalment payments so that they are treated the same as taxpayers who have tax deducted from their income at source.

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