Is this you?
- I owed tax last year
- No installments were paid
- I didn't receive a reminder
"CRA will tell me if I owe installments."
If you owe more than $3,000 ($1,800 in Quebec) in the current year and either of the two previous years, you are likely required to pay installments - even without notice.
Why guessing is risky
- Interest applies from installment due dates
- CRA calculates interest automatically
- Balances grow quietly
Safe to ignore if
- No prior tax owing existed
- Installments were paid
Stop and check if
- Tax was owed in multiple years
- Income isn't fully salaried
Resolve the doubt
Check my installment interest risk (2 minutes)We'll tell you if this needs reporting and what to do next.
"Most people learn whether interest is already accruing."