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Tip of the Week

Nov. 29/16

Personal Tax Instalment Deadline: December 15th

Have you figured out if you need to send any more money to the government for your 2016 personal income taxes? The last instalment is due on December 15 and this can be a complicated decision. Typically people only send in an instalment if they have been asked to make instalments by CRA.  If you have been asked, you need to do an estimate of the tax that you are going to pay in 2016 and compare that to the amount of tax that you have sent to CRA, if there is going to be tax owing you should consider paying the December 15 tax instalment.