Prepayment Plan
Tax Prepayment Information Sheet
Pre-authorized payment is an assured method of paying your taxes in advance. Simple interest will be paid on your prepayments at the Royal Bank prime rate less 3%. This interest is presently considered a tax discount by Revenue Canada, and is therefore, tax free to those property holders on the Prepayment Plan. When you join the Prepayment Plan, your monthly installment will be automatically deducted from your bank account. An Application Form must be complete, signed, and accompanied by a blank cheque, marked VOID in order for us to set up the Plan.