Canada Revenue Agency
www.cra.gc.ca
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When are your payments due?
Your instalment payments for 2007 are due March 15, June 15, September 15, and December 15, 2007.
When a due date falls on a Saturday, a Sunday, or a holiday recognized by the CRA, we consider your payment to be paid on time if we receive it or if it is postmarked on the next business day.
Note
Payments you make in person at your financial institution, or electronically are considered received by the CRA on the date that you make them.
Deceased persons - If an individual who has to pay tax by instalments dies during the year, no instalment payments due on or after the date of death have to be paid.
Will we contact you before you have to pay?
Instalment reminders are issued to help you identify if you have to pay income tax by instalment. The reminder will suggest an amount to pay and let you know of the various payment options.
In February and August, we send instalment reminders to individuals who may have to pay tax by instalments. The February reminder is for the March and June payments, and the August reminder is for the September and December payments. You can see your instalment reminders on our online service, My Account.
Note
Even if we send you an instalment reminder in 2007, you do not have to make instalment payments for 2007 if your net tax owing for 2007 will be $2,000 or less ($1,200 or less for residents of Quebec).
Did you only get an instalment reminder for September and
December 2007?
If you use the no-calculation option, pay the amount shown in box 2 of your reminder for September 15 and December 15.
If you use the prior-year option, calculate your prior-year (2006) net tax owing and add any Canada Pension Plan (CPP) contributions payable. Pay
three-quarters of the total on September 15 and one-quarter on December 15.
If you use the current-year option, estimate your current-year (2007) net tax owing and add any CPP contributions payable. Pay three-quarters of the total on September 15 and one-quarter on December 15.
Note
Whichever option you choose, if you have already made a payment for the March 15 and June 15 due dates, you can subtract those amounts from your September 15 payment.
