Work out your quarterly CRA instalment payments. Compare the prior-year and current-year methods to see which one saves you money.
Quarterly Instalment Amount
$3,750.00
Prior-Year Method (recommended)
Annual Estimated Tax
$37,402.87
Instalments Required?
Yes
| Quarter | Due Date | Amount |
|---|---|---|
| Q1 | March 15 | $3,750.00 |
| Q2 | June 15 | $3,750.00 |
| Q3 | September 15 | $3,750.00 |
| Q4 | December 15 | $3,750.00 |
| Total | $15,000.00 | |
Prior-Year Method
$3,750.00
per quarter
Annual: $15,000.00
Saves you money
Current-Year Method
$9,350.72
per quarter
Annual: $37,402.88
Common questions about quarterly tax instalments in Canada
The CRA requires you to make quarterly instalment payments when your net tax owing is more than $3,000 in the current year and in either of the two previous years. In Quebec, the threshold is $1,800. If you owe less than these amounts, you do not need to pay in instalments.
The prior-year method divides last year's assessed tax into four equal payments. The current-year method divides your estimated tax for this year into four equal payments. You can use whichever method gives you the lower amount. The CRA will not charge interest as long as you pay the required amount by each due date.
The CRA charges instalment interest at the prescribed rate (updated quarterly) on any late or underpaid instalments. Interest runs from the due date until you pay. If your total instalment interest for the year is more than $1,000, the CRA may also add a 50% penalty on the excess. Paying on time avoids both charges.
Disclaimer: This calculator provides estimates based on current CRA rates and thresholds for the 2025 tax year. It does not constitute professional tax, financial, or legal advice. Your actual liability may differ depending on your individual circumstances. Always consult a qualified accountant before making financial decisions. Read our terms