CRA Guidelines on Tax Instalments

By Survive and Thrive - Wednesday, July 8th, 2009

A business or self-employed individual must pay income taxes by quarterly or monthly instalments. Many taxpayers elect to pay instalments that are based on the level of income their business earned in the previous tax year. But if you are having a weak year, this means you are paying more tax than you will owe for the current year. To preserve cash flow, review your instalments and see if it makes sense to reduce them. Learn more from CRA’s Guidelines on Tax Instalments.

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Survive and Thrive

Survive and Thrive Ottawa is a comprehensive resource of the practical expert advice and proven wisdom small and medium-sized businesses need to endure and prosper in challenging times.

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