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?

131

Moderator

Jul 31, 2025 7:04:13 AM

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

Why sign in to the Community?

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?