Tax Installment Calculator
Compare all three CRA-accepted methods for quarterly tax installments. Pay the minimum without penalties. /* tooltip: CRA: Canada Revenue Agency */
Your actual tax from last year
Tax from two years ago
Your best guess for this year
Method 1 — Current Year Estimate
Base installments on your estimated current-year tax. Best if income is dropping.
$14,000
annual total
March 15$3,500
June 15$3,500
September 15$3,500
December 15$3,500
Method 2 — Prior Year
Base installments on last year's actual tax. Most commonly used.
$12,000
annual total
March 15$3,000
June 15$3,000
September 15$3,000
December 15$3,000
Method 3 — Second Prior + PriorLowest
First 2 quarters use second-prior-year, last 2 use prior-year adjusted. Best if income is rising.
$11,000
annual total
March 15$2,500
June 15$2,500
September 15$3,000
December 15$3,000
Note: CRA charges interest on insufficient installments. Using any of these three methods protects you from installment interest, but you must use the same method for the entire year. Estimates only. Consult your CPA.
CorpBooks tracks your installments automatically and sends reminders before due dates.