Assume Colt only has income from self-employment for the current year, and he lives in Yukon. In which of the following situations would he be required to make income tax instalment payments for the current year?
A. Colt's net tax owing is $2,000 for the current year. His net tax owing was $2,200 and $1,600 in the two preceding years.
B. Colt's net tax owing is $4,700 for the current year. His net tax owing was $2,000 and $1,800 in the two preceding years.
C. Colt's net tax owing is $3,700 for the current year. His net tax owing was $2,000 and $4,000 in the two preceding years.
D. Colt's net tax owing is $1,500 for the current year. His net tax owing was $3,700 and $4,600 in the two preceding years.