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Installment payments for clients who owe taxes

Author: External Author | Jun 24, 2021 | Categories: Accountant , Tax Planning Services

Under the Income Tax Act, quarterly tax installments are required for this tax year if a taxpayer’s “net tax owing” for 2021 will be more than $3,000, and they also owed more than $3,000 in either 2020 or 2019. (For tax filers in Quebec, the threshold is $1,800 owing.)

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Original Article Source Credits: Advisor's Edge, https://www.advisor.ca/

Article Written By: Jamie Golombek 

Original Article Posted on: 11th May 2021

Link to Original Article: https://www.advisor.ca/tax/tax-news/instalment-payments-for-clients-who-owe-taxes/



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  • Home
  • About Us
  • Our Services
    • Our Services
    • Professional Services
    • Personal Tax Planning Services
    • Bookkeeping Services
    • Corporate Services
  • Service Areas
  • Blog
  • Contact Us