Tax wiki
s. 163.1
PART I — Income Tax · DIVISION I — Returns, Assessments, Payment and Appeals · Penalties
Penalty for late or deficient instalments
Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31
Current text
Every person who fails to pay all or any part of an instalment of tax for a taxation year on or before the day on or before which the instalment is required by this Part to be paid is liable to a penalty equal to 50% of the amount, if any, by which
the interest payable by the person under section 161 in respect of all instalments for the year
exceeds the greater of
$1,000, and
25% of the interest that would have been payable by the person under section 161 in respect of all instalments for the year if no instalment had been made for that year.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since the start of the point-in-time record on 31 August 2004.
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 163.1 links to the one before it.
Enacting and amending legislation
- 1985, c. 55, s. 143
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. 163.1.