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FILING SEASON DEADLINE EXTENSIONS (Min. of Fin. response to COVID-19)

Thursday, March 19, 2020

The Canada Revenue Agency will EXTEND the filing due date for the 2019 tax returns of individuals, including certain trusts.

  • For INDIVIDUALS, the return filing due date will be deferred until June 1, 2020. However, the Agency encourages individuals who expect to receive benefits under the GSTC or the Canada Child Benefit not to delay the filing of their return to ensure their entitlements for the 2020-21 benefit year are properly determined.
  • For TRUSTS having a taxation year ending on December 31, 2019, the return filing due date will be deferred until May 1, 2020.

The Canada Revenue Agency will allow all taxpayers to DEFER, until after August 31, 2020, the PAYMENT of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. NO INTEREST OR PENALTIES will accumulate on these amounts during this period.

Many thanks to Irmina M Koza, Chartered Professional Accountant for sharing this info: https://www.facebook.com/IrminaMKoza




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