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Everything you need to know about paying taxes by instalments, and why ignoring the CRA's reminders is a bad idea
June 11, 2018
8:58 am
Top It Up
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From the National Post -

Everything you need to know about paying taxes by instalments, and why ignoring the CRA's reminders is a bad idea

http://business.financialpost......a-bad-idea

June 11, 2018
9:23 am
Kidd
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Thanks Top It Up.

I am in that boat, the CRA have told me... in August they will mail my tax installment reminder. I always hang up on automated calls AND the cra have said in the past, DO NOT trust "this is the cra, pay $xxxxx now, or you are going to jail" calls.

June 11, 2018
12:35 pm
Dennis
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If I need to pay, will CRA send letter or something? I think I may have to pay installment but not sure. I didn't get any letter or email but I think I got automated calls from CRA. I hung up thinking that it is scam.

June 11, 2018
12:54 pm
file
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You get a letter telling you what and when.

June 11, 2018
1:19 pm
Dennis
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file said
You get a letter telling you what and when.  

Thanks. Then I guess I can just wait till CRA send letter.

June 11, 2018
4:10 pm
mmlt
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I always owe them something. They send a bill. Give them something every month or so if you desire. Do they like it? No.

June 13, 2018
1:50 pm
AltaRed
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file said
You get a letter telling you what and when.  

Or you get it in your MyAccount Inbox if you have elected for electronic communications (which I have). If there is no installment letter, there are no installments owing. I always simply follow what CRA tells me. One cannot go wrong doing that. Any cumulative over payment that one might incur is not worth the 1-2% interest you would have obtained otherwise.

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