Yes. a VPS can be cancelled at any time through the management panel. After cancelling, your VPS will shut down within the next ten minutes.
BinaryLane is billed by the hour, so once cancelled we will generate a final invoice for the number of hours that the server existed (or since you were last billed for that server).
VPS can be cancelled in mPanel here - https://www.binarylane.com.au/mpanel/cancel-vps