Everywhere except Quebec, the filer owes $3,000 or more in tax in two consecutive years. In Quebec, it is a lower limit of $1,800 because taxpayers in that province file tax returns through Revenu Québec in addition to the Canada Revenue Agency.
Depending on the time of year, there are different considerations for whether to pay, play, or skip the payment. After all, installments are suggested payments, not balances owed, although there are interest and penalties in play, too.
15 March installment
If you’re considering a March 15 installment payment, remember that the CRA bases your March and June installment reminders on two years’ worth of tax owed, because your previous year’s return may not have been filed and audited.
Therefore, your installment amount for March 15, 2026 will be based on your 2024 tax return.
If your tax liability was too low in 2025 or will be too low in 2026, you may be able to pay a lower amount or nothing at all.
Once you’ve filed your tax returns, you’ll have a better sense of what taxes you owe last year—and more time to catch up.
June 15 installment
The CRA allows some flexibility as long as your total installments match your actual tax owed for the year.
It says the CRA asked you to pay $4,000 in taxes on March 15 and another $4,000 on June 15, and you haven’t paid anything yet. If you only owe $10,000 in last year’s taxes, you may be able to pay $7,500 by June 15.
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Essentially, you’ll be estimating the installments needed to match your actual $10,000 in taxes: one late payment, one early, and one on time. A final payment of $2,500 on December 15 may meet your installment requirement of $10,000 in total payments.
Canadian Tax Guide
Deadlines, tax tips and more
Your March and June installment reminders come in February. If you are not sure whether you should have paid this year’s installments (or whether you have already paid them), you should check your CRA Account. If not, you may not notice until you get an August reminder for your September and December installments.
September 15 installment
September and December installment reminders are recalculated using your most recently completed return. So, while the March and June 2026 reminders rely on your 2024 return, the September and December values will use your 2025 return.
Even if the CRA doesn’t ask for September and December installments, you may need to catch up on previous missed payments to avoid interest. So, use it as an opportunity to review what you were asked to pay and what you paid at the beginning of the year.
December 15 installments
Your last installment of the year is a good opportunity to reassess. By December, you should have a sense of your income for the year. For taxpayers with variable income from self-employment or unregistered capital gains, for example, it may be easier to estimate your final figures 11 months behind you.
Tax rates can be very difficult for investors who own mutual funds or pooled funds. These investments can distribute large taxable profits even if the investor has not personally sold any units.
A final note
You can pay off your installment account at any time. Installment deadlines are fixed, but taxpayers can also make additional payments throughout the year.
However, if you pay late or underpay, you may incur interest and penalties.
