Interest will also be waived on new and existing GST/HST and T2 instalment and arrears payments due between April 2 and June 30, 2025. Interest will resume on July 1, 2025.

In May 2024, the CRA will begin issuing annual “Available Payments Summary” letters to taxpayers who have available payments on their account. Taxpayers who are signed up for e-notifications will receive an email notification of the letter. Taxpayers and their authorized representatives can view these letters through the Agency’s secure portals.

Tax instalments are payments you make throughout the year to cover the taxes you normally pay in one lump sum on April 30 of the following year. You pay these instalments during the year while you are earning the income, similar to how an employer deducts tax directly from each pay period.