Paying your income tax by instalments
Instalments are periodic income tax payments that you have to pay on certain dates. These are to cover tax that you would normally have to pay in a lump sum on April 30 of the following year. Instalments are not paid in advance; they are paid during the calendar year in which you are earning the taxable income.
If you received an instalment reminder in February 2020, your due date for the June 15 payment has been changed to September 1, 2020.
If you receive an instalment reminder in August 2020, you can choose to reduce or not pay further instalments for 2020 if you meet one of the following conditions:
- The instalments you already paid this year will cover your estimated 2020 net tax owing
- Your net tax owing for 2020 will be $3,000 or less, or $1,800 or less for residents of Quebec
Notice to the reader
Services and information
- Do you have to pay tax by instalments?
Who has to pay tax by instalments, why, and what is an instalment reminder.
- How do you calculate your instalment payments?
The three calculation options, the calculation chart, what happens if you received an instalment reminder in August, and how to reduce your instalment payments.
- How do you pay your instalments?
The various payment methods, when you have to pay, and what happens if you overpaid.
- How do you claim your instalment payments on your tax return?
How to claim your instalment payments, and what happens if you move from Quebec in 2020.
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