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Instalment Method Selection


IanSD
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Ufile is saying my retired parents need to pay instalments next year due to a one-off high income year. I want to use the prior-year method to avoid this, but the program is defaulting to the current year method. Any tips on how to change this? I know how to do this in Taxprep since I do it for clients regularly, but I'm at a loss here on Ufile.

 

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It does not matter what UFile says. It is for the user's information only and none of that information goes to CRA. It can be ignored. Your parents will receive a CRA installment payment notice in July or August listing the 3 methods available. It is up to your parents to decide which method, e.g. prior year method, they use starting with the Sept 2021 payment.

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