Understanding Tax Sub-Type Categories
When creating a Payment Schedule, you will need to select one of the following tax subtypes to be applied in the creation of the schedule(s).
Interim / Instalment
- (Interim) This option is a temporary or provisional payment made before the final amount is settled.
- (Instalment) This option is when smaller payments are made as part of a larger total amount, paid over time.
Arrears / Amount Owing
- This option is of payment is for a past due amount that was not paid on time.
Payment on Filing
- This option is for payments made when filing your tax return.
Balance Due
- This option is for payments made when you owe money to your tax account.
Garnishee
- This option is when an entity holds and remits the funds as directed by the court or legal authority (appears in the Trust category in Payment Schedules).
Current Year
- This option is for the ongoing financial year or accounting period for which financial records are being prepared (appears in the Payroll category in Payment Schedules).
❗️Note that several provinces and territories have their own unique holidays. Therefore, due dates may be affected depending on where you reside.
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