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April 15, 2023
Question

Transfer installment overpayment to spouse?

  • April 15, 2023
  • 1 reply
  • 0 views

When reviewing the final returns for my wife and I, I see that I overpaid my income tax instalments and she underpaid them.

 

This means I will get a refund but she have to pay taxes owing. Consequently she will probably end up paying interest & penalties on the underpayment.

 

Is there any way to transfer my overpaid amount to her account so that she gets credit for the overpayment of the installments?

1 reply

April 17, 2023

I called Revenue Canada and they said there is no way to transfer an overpayment to a spouse.