Voluntary quarterly tax payments

[pjhancock]

We are a Brit and a Canadian, longtime permanent US residents, recently retired to Canada. Most of our income is from pensions, US social security, and the occasional dip into the IRAs. We have no Canadian income and consequently have no tax witholding in Canada, and will owe >$10000 by the end of this year. I understand that this will trigger CRA into requiring us to make quarterly payments in subsequent years.
My question relates to how this affects foreign tax credits on next year's US tax return. If we pay no taxes to Canada this year, then next April we will pay US taxes on our full pension income with no tax credits, and also be faced with paying the CRA for the tax we owe. Should we be paying voluntary quarterly tax payments to the CRA to ensure that we have some Canadian "tax paid" to claim as a credit?

[nelsona]

I always prefer the tax accrued method, so that when you pay doesn't matter. I'd suggest the same for you. Canada works on the tax accrued method only.

Yes, you will be eventually 'forced' to pay quarterly payments to Canada, so you might as well get in the habit.