Instalment Reminder
If you owed more than $3,000 at filing in two recent years (self-employment, rental, investment income), the CRA asks you to prepay quarterly. Ignoring it doesn't create a debt by itself — but can create instalment interest if you owe again.
⏰ The deadlines
| Instalment due dates | March 15, June 15, September 15, December 15 |
🛡️ Defenses & defects to check
- You have three calculation options: the CRA's suggested amounts (no-interest safe harbour), prior-year, or current-year estimate. If your income dropped, the current-year option legitimately lowers payments.
- No interest applies if this year's balance ends up under $3,000.
💡 What the pros know
- Paying the CRA's suggested amounts is the zero-risk option — even if they turn out too high, the excess comes back at filing.
Related forms: Notice of Assessment (NOA)
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Decode it freeGeneral tax information, not tax or legal advice — verified against official guidance but programs and deadlines change. Confirm on canada.ca or with a licensed tax professional; free help exists at community tax clinics (CVITP).