Income tax paid by instalments
To enter the installments amount you paid, please follow the
procedure below:
1. On the "Left side menu on the Interview tab", select
"Interview setup".
2. On the right-hand side page, in the group "Tax paid
by installments and tax transfer", check the box
"Tax paid by installment and tax transfer" and
click "Next" at the bottom of the page.
3. Return to the "Left side menu on the Interview tab"
and select "Installments and tax transfers". On the page to
your right, click on the plus "+" icon to the
right of the line "Income tax paid by installments".
4. On the new page, enter the installments paid for the tax year
for both the federal and Quebec levels.
These amounts will be carried over by the program on
line 47600 of the federal return and on line 453
of the Quebec return.
If applicable, the program will prepare an estimate of the tax
installment calculation for the next tax year. To view this
estimate, go to the "Tax Return" tab and, in the
left column, click on the lines "Installment payments.
(Federal)"and for residents of Québec "Installment
payments. (Québec)".
Furthermore, both the CRA and Revenu Québec will inform you of
their estimated installment payments that you will have to pay
within the allotted time.
Both the CRA and Revenu Québec could charge interest and in some
cases penalties if you do not meet the payment deadlines.
For more information on this topic, visit the following
links:
For CRA:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/making-payments-individuals/paying-your-income-tax-instalments.html
For Revenu Quebec:
https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-105-v/
ID: 20201102121502NA.xml
Webpage: KPA310-20201102121502NA.htm
