Last year I made nearly 40 K and the accountant said I owed $4400. He said that I would likely be asked to make prepaid installments during the 2014-2015 year but I never got any notice of the sort. I got my usual notice of assessment and was told how much I owe and I paid it off within a month or so and that was it. They did not ask me to make payments towards the 2014 tax year.

So this April I did my taxes for 2014 and again I owe over $4000. I set aside about $100 a week so I am pretty much ready. I think over 2000 was CPP and another 2000 or so was income tax.

Don't panic about the installment part - because it was told to me but never came to happen.

BTW - you can call Revenue Canada and ask to make a monthly payment if you can't afford to pay what you owe all at once. I have done a monthly payment plan with them because I got blindsided by what I owed.