If for any two of three consecutive taxation years, your “net tax owing” is more than $3,000 (or $1,800 if you are a Quebec resident) after you file your personal income tax return, you can expect that the Canada Revenue Agency (“CRA”) will request that you pay your current year’s income tax in quarterly instalments.
As you prepare to file your 2022 income tax return, here are some important dates to be aware of.