Instalment payments

As a self-employed individual, you may have to make instalment payments. Your instalment payments are due on March 15, June 15, September 15, and December 15. There are different methods that can be used to calculate instalment payments. To determine which calculation method is best for you, see Booklet P110, Paying your Income Tax by Instalments.

However, in most cases, we will send you a notice indicating an amount we have calculated for you.

You may have to pay interest and a penalty if you do not pay the full instalment amount you owe on time.

For information on GST/HST instalments, see How to make instalment (interim) payments.

Forms and publications

• Guide T4002, Business and Professional Income
• Booklet P110, Paying your Income Tax by Instalments

Related topics

• How to make instalment (interim) payments