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Can income taxes be prepaid?
Expert: James Rhodes
David asked:
Can I prepay my income taxes to avoid the penalty as I will be out of the country until June and will be unable to file. I have estimated the amount owing.
James Rhodes answered:
The issue is yes. I would make two recommendations. The first is to write payment of 2010 personal taxes and your SIN on the cheque. This cheque can be dropped off at your local CRA office.
Alternatively some banks allow online payments for your taxes. The second recommendation is to overpay a bit just in case your estimate is low.
About the author
James Rhodes, LLB, BSc, is an associate with Miller Thomson LLP.
He can be contacted at: 519.593.2403, Fax: 519.743.2540 or Email: jrhodes@millerthomson.com.