how likely are they going to waive penalty and interest for not prepaying taxes in instalments?
the situation is simple, i was a contractor, so that's why they assumed i will have pay this much tax again next year for 2026, but im actually umemployed, so i have 0 income. however, i do have stocks that may or may not result in a net tax owing of more than $3000.
so my question is, if i ignore the instalments, and i end up getting enough income from stocks that puts me at over 3k net tax owing, how likely is it that they would waive the penalty and interest for me on that basis?
on a side note, i know i can probably research this, but if someone can tell me this off the top of their head to save me some time, that would be much appreciated. i have a lot of RRSP contribution room, and i know i can put money in there to avoid, or rather delay, taxes. i believe banks give u the forms around feb or something? telling u how much income u made from ur investments? is there a calculator of some sort that i can use to input those numbers to see how much tax i owe, and how much money i need to put in my RRSP so that the net tax owing is less than 3k? lol and also what is the deadline to contribute to RRSP for previous year tax purposes?