Are you eligible to make quarterly instalment payments?

A small CCPC is eligible to make quarterly instalment payments if, at the time the payment is due:

• it has a perfect compliance history;
• it has claimed a small business deduction for the current or previous tax year; and
• together with any associated corporations, for the current or previous tax year:
  • it has taxable income of $500,000 or less; and
  • it has taxable capital employed in Canada for the tax year of $10 million or less.

We consider you to have a perfect compliance history if, during the previous 12 months ending at the time your last instalment was due:

• you remitted on time all the amounts required for GST/HST, withholding under subsection 153(1) of the Income Tax Act, Canada Pension Plan contributions and employment insurance premiums; and
• you filed on time all returns required under the Income Tax Act or under Part IX of the Excise Tax Act (GST/HST).

Forms and publications

• Guide T7B-CORP, Corporation Instalment Guide
• Form T2WS1, Calculating estimated tax payable and tax credits for 2017
• Form T2WS3, Calculating quarterly instalment payments for 2017

Date modified:

2017-02-07