New US rresident Installment payments for 2007

Hello David
It was nice seeing you again and thank you for taking the time out to see me.
I have a quick question, I recently received a letter from Revenue Canada to my Canadian address Re: Installment Payments ... They are asking for 11,000.00 for Sept 15 and December 15.  This I am assuming is based on my last years income tax.  (I had the sale of the house and other investments for which I had to pay taxes on) 
As I am not working this year and the only thing I have done is sold my stocks as I could not longer work with the company I was dealing with for obvious reasons. But I never took the money it was directly sent to another company that are licensed to deal with me and combined with existing investments at that company.
So my question is Do you think I should send in installments payments?  My mom was saying if I don't I will be charged interest on the amount they are asking for.
I won't have anything on my income tax to claim as income for 2007 expect my Canadian Investments e.g. the stocks and other stuff? Also If I do send them some money does it have to be for that amount? Or could I send in a smaller amount?  Also If I am required to send them this amount how would be the best way to do it ?

Thank you for your time.
 --------------------------------------------- david ingram replies:

As a non-resident of Canada, the financial institution is supposed to withhold 10% of interest and 15% of dividends and remit it to the CRA as non-resident tax.

If you are pretending to still be a resident with the financial institution, then at the end of the year, you have to pay the CRA 10% of any interest and 15% of any dividends and then claim the amounts as a foreign tax credit on form 1116 of the US tax return.

If you do not pay the installments, the most that the CRA charges interest on is the amount of tax you end up owing, not the amount that they billed. �