The Versa Blog

Corporate Tax Installments in Canada: What You Need to Know

If your Ontario corporation owes more than $3,000 in corporate taxes, CRA requires monthly or quarterly installments. Monthly payments are due on the last day of each month, while eligible small CCPCs can pay quarterly (March 31, June 30, September 30, December 31). GST/HST installments are also required if net tax payable exceeds $3,000. Late payments may result in interest and penalties.

Ranjit Mann