Tax wiki
s. 156
PART I — Income Tax · DIVISION I — Returns, Assessments, Payment and Appeals · Payment of Tax
Other individuals
Not yet annotated · Text current to 2026-06-21 · section last amended 2013-12-12
Current text
Subject to section 156.1, in respect of each taxation year every individual (other than one to whom section 155 applies for the year) shall pay to the Receiver General
on or before March 15, June 15, September 15 and December 15 in the year, an amount equal to 1/4 of
the amount estimated by the individual to be the tax payable under this Part by the individual for the year, or
the individual’s instalment base for the preceding taxation year, or
on or before
March 15 and June 15 in the year, an amount equal to 1/4 of the individual’s instalment base for the second preceding taxation year, and
September 15 and December 15 in the year, an amount equal to 1/2 of the amount, if any, by which
the individual’s instalment base for the preceding taxation year
exceeds
1/2 of the individual’s instalment base for the second preceding taxation year.
Payment by mutual fund trusts
(2)Notwithstanding subsection 156(1), the amount payable by a mutual fund trust to the Receiver General on or before any day referred to in paragraph 156(1)(a) in a taxation year shall be deemed to be the amount, if any, by which
the amount so payable otherwise determined under that subsection,
exceeds
1/4 of the trust’s capital gains refund (within the meaning assigned by section 132) for the year.
Definition of
(3)In this section, instalment base of an individual for a taxation year means the amount determined in prescribed manner to be the individual’s instalment base for the year.
Source: Justice Laws Website. Not an official version.
Historic text
Immediately preceding version, in force from 2004-08-31 to 2013-12-11:
Show the text in force 2004-08-31 to 2013-12-11
Other individuals
156 (1) Subject to section 156.1, in respect of each taxation year every individual (other than one to whom section 155 applies for the year) shall pay to the Receiver General
(a) on or before March 15, June 15, September 15 and December 15 in the year, an amount equal to 1/4 of
(i) the amount estimated by the individual to be the tax payable under this Part by the individual for the year, or
(ii) the individual’s instalment base for the preceding taxation year, or
(b) on or before
(i) March 15 and June 15 in the year, an amount equal to 1/4 of the individual’s instalment base for the second preceding taxation year, and
(ii) September 15 and December 15 in the year, an amount equal to 1/2 of the amount, if any, by which
(A) the individual’s instalment base for the preceding taxation year
exceeds
(B) 1/2 of the individual’s instalment base for the second preceding taxation year.
Payment by mutual fund trusts
(2) Notwithstanding subsection 156(1), the amount payable by a mutual fund trust to the Receiver General on or before any day referred to in paragraph 156(1)(a) in a taxation year shall be deemed to be the amount, if any, by which
(a) the amount so payable otherwise determined under that subsection,
exceeds
(b) 1/4 of the trust’s capital gains refund (within the meaning assigned by section 132) for the year.
Definition of instalment base
(3) In this section, instalment base of an individual for a taxation year means the amount determined in prescribed manner to be the individual’s instalment base for the year.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- R.S., 1985, c. 1 (5th Supp.), s. 156
- 1994, c. 7, Sch. II, s. 128, Sch. VIII, s. 92, c. 8, s. 23
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 156 links to the one before it.
Enacting and amending legislation
- R.S., 1985, c. 1 (5th Supp.), s. 156; 1994, c. 7, Sch. II, s. 128, Sch. VIII, s. 92, c. 8, s. 23; 2013, c. 40, s. 68
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 156.