Tax Installments in Canada Made Super Simple!

Are you a Canadian business owner confused by tax installment payments? Wondering why the CRA wants money before tax season even starts? In this video, Joe breaks down exactly how tax installments work in Canada, whether you're incorporated, self-employed, or just received a letter from the CRA that made you say, "Wait, what?!" We cover: ✅ Who needs to pay tax installments ✅ Corporate tax installments (who, when, and how much) ✅ Personal tax installments (including thresholds and due dates) ✅ GST/HST installment payments for annual filers ✅ How to pay installments through online banking, CRA portals, or mail ✅ What happens if you miss or underpay installments ✅ Tips to avoid interest and penalties 🔎 If you’ve owed more than $3,000 in tax before—or expect to this year—the CRA may require installment payments. Don’t get caught off guard. #TaxInstallments #CRACanada #CorporateTax #CanadianBusiness #GST #HST #SelfEmployedCanada #SmallBusinessCanada #AvalonAccounting #BookkeepingCanada #CRAInstallments #PayingTaxesCanada #accountingtips ****************************** ✅ Sign up for our newsletter here: https://www.avalonaccounting.ca/weekl... ****************************** 🎥 CONTENTS OF THIS VIDEO 00:00 - Tax Installments Intro 00:34 - Corporate Income Tax Installments 02:09 - When Are Corporate Tax Installments Due? 05:37 - Personal Income Tax Installments 05:51 - Who Needs to Pay Personal Tax Installments? 06:37 - When Are Personal Tax Installments Due? 08:25 - GST/HST Installments 08:38 - Who Needs to Pay GST/HST Installments? 09:32 - How Much to Pay for GST/HST Installments 10:10 - How to Pay Tax Installments 12:33 - What Happens If You Don’t Pay? 13:27 - Final Thoughts ****************************** 🅰️ AVALON ACCOUNTING Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada. We provide online bookkeeping, accounting services and expert financial advice for small businesses. We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in. ► Website: https://www.avalonaccounting.ca/ ****************************** 🧑‍🏫 ONLINE COURSES ► Take your business to the next level with our online courses. https://www.avalonaccounting.ca/courses ✅ ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE) ► Keys to building a business that provides owners with time, money and purpose. https://www.avalonaccounting.ca/cours... 🖥️ LEARN MODERN BOOKKEEPING ► Learn to do your own bookkeeping with modern tools and our proven practices. https://www.avalonaccounting.ca/cours... 📈 BOOKKEEPING AND TAX FOR FREELANCERS ► This course teaches sole proprietors how to simplify bookkeeping and taxes. https://www.avalonaccounting.ca/cours... ****************************** 💼 20% OFF INCORPORATION WITH OWNR If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs: ► https://www.ownr.co/partners/avalon-a... We may receive compensation when our link is used to sign up with OWNR ****************************** 🧑🏻‍🏫 FREE BUSINESS GUIDES: ► Starting Your Business Guide: https://joecollins.typeform.com/to/bc... ► Business Owner’s Productivity Guide: https://joecollins.typeform.com/to/zJ... ► Financial Foundations Guide: https://joecollins.typeform.com/to/jF... ► $1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e2...