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Federal Tax Installment 2024


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In 2023 I cashed in an RRIF  that increased my 2024 tax instalments calculated by Ufile.    I do not want to pay the 2024  amount tax instalments calculated by U file because it is over stated.   I ran my tax excluding this one-time RRIF income  and my 2024 tax instalments increased.   I would assume my tax installments would decrease????   Has anyone experienced a problem with this program??? 

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.  I have tried to submit my request via the link you provided... the system is saying my email is not valid!!   I also tried submitting this information via the request form included in your online file with my tax info and it will not send the request.   I don't want to have to phone as it takes hours to get someone.  Please provide assistance.   thank you  

This forum is the only place where I am able to get help.

 

 

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My email address is NOT invalid. Has anyone else experienced this system problem??    I just called  and the wait time is 28 minutes.   This is ridiculous.  Have you every considered a telephone call back system so that the customer doesn't have to wait for 28 minutes on HOLD.      

 

 

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Hi,

Hope this helps:

If your tax owing for 2024 is less than 3,000 you don't need to pay installment. Even if Ufile calculates it.

From the CRA's website:

https://www.canada.ca/en/revenue-agency/services/payments-cra/individual-payments/income-tax-instalments/who-pays-instalments.html

Receiving an instalment reminder

The CRA sends instalment reminders to people who will likely have to pay tax instalments. The reminders suggest the amount to pay and lists the calculation options.

There are two instalment reminders (form INNS1) sent:

  • February reminder is for the March and June payments
  • August reminder is for the September and December payments

You can view your instalment reminders online using My Account.

If you received an instalment reminder in 2024, but your 2024 net tax owing is $3,000 or less ($1,800 or less for Quebec), you do not have to pay tax instalments for 2024.

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