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New Member

What are the implications with CRA if I owe (say) $10,000, and pay $5,000 before the end of April and the other $5,000 in May sometime!?

 
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New Member

What are the implications with CRA if I owe (say) $10,000, and pay $5,000 before the end of April and the other $5,000 in May sometime!?

As long as you file your return on time there will be no late filing penalties.  However, you will be assessed interest on any taxes that are not paid by April 30.

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New Member

What are the implications with CRA if I owe (say) $10,000, and pay $5,000 before the end of April and the other $5,000 in May sometime!?

As long as you file your return on time there will be no late filing penalties.  However, you will be assessed interest on any taxes that are not paid by April 30.

View solution in original post