My tax instalment payments for 2025 based on self-employment income of 2024. That income will be ~50% less. How can reduce the instalment payments without penalty?

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TurboTaxSusan

This Canada Revenue Agency (CRA) webpage shows you the different options you have for choosing what you'll pay in tax instalments: Required tax instalments for individuals -

Options to calculate

My tax instalment payments for 2025 based on self-employment income of 2024. That income will be ~50% less. How can reduce the instalment payments without penalty?

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