Generally, corporations have to pay their taxes in instalments. An instalment payment is a partial payment of the total amount of tax payable for the year. The Income Tax Act requires corporations to make instalment payments so that they are treated the same as taxpayers who have tax deducted from their income at source.
Forms and publications
- Corporation Instalment Guide (T7B-CORP)
- Form T2WS1, Calculating estimated tax payable and tax credits for 2014
- Form T2WS2, Calculating monthly instalment payments for 2014
- Form T2WS3, Calculating quarterly instalment payments for 2014
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