How is the instalment amount calculated?
Quarterly instalments are required if the previous year’s taxes were more than $25,000. The required instalment amount is either ¼ of the previous year’s taxes or ¼ of the current year’s estimated taxes. Interest charges will apply if the current year’s instalments are less than both the previous and current year’s actual taxes payable. See Make a Payment for more information.
Related Questions
- My activity statement for July — September 2002 showed an instalment amount at G21. I have not used Option 3 before, how was the amount at G21 calculated?
- My activity statement for July - September showed an instalment amount at G21 but I have not used Option 3 before. How was the amount at G21 calculated?
- How is the GDP-adjustment for the GST instalment calculated?
