Income tax paid by instalments
To enter the amount of instalments that you have paid, please
follow the procedure below:
1. In the "Left side menu on the Interview tab", select
"Interview setup".
2. On the right-hand side page, in the group "Tax paid by
instalments and tax transfer", check the box "Tax paid by
instalment 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 "Instalments and tax transfers". On the page to
your right, click on the plus "+" icon to the right
of the line "Income tax paid by instalments".
4. On the new page, enter the instalments 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
instalment 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 "Instalment payments.
(Federal)"and for residents of Québec "Instalment
payments. (Québec)".
Furthermore, both the CRA and Revenu Québec will inform you of
their estimated instalment 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<
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For Revenu Quebec:
https://www.revenuquebec.ca/en/citizens/income-tax-return/paying-a-balance-due-or-receiving-a-refund/instalment-payments/making-instalment-payments/
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Webpage: KPA310-20201118150251DE.htm
