Financial Measures Introduced by the Government of Canada in Response to COVID-19
Updated March 20: Canada’s COVID-19 Economic Response Plan
An important resource now available from the Canadian Department of Finance for individuals and businesses facing hardship as a result of COVID-19.
Read Canada's COVID-19 Economic Response Plan here.
CANADIAN TAX DEADLINE EXTENSIONS
Announced March 18, 2020, the following tax deadline extensions were introduced by the Government of Canada in response to COVID-19.
The deadline to file income tax and benefit returns has been extended from April 30th to June 1st, 2020. The deadline to pay any 2019 balance has been extended to August 31st, 2020.
All 2019 balances paid before September 2020 will not incur any penalties and interest.
Self-employed individuals and their spouse/common-law partner must still file their income tax and benefit returns by June 15th, 2020.
Businesses will be allowed 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.
The CRA will not contact any small or medium businesses to initiate any post assessment GST/HST or Income Tax audits for the next 4 weeks.
Trusts – for tax year ending December 31, 2019, the filing date is now May 1, 2020.
NOTE: You can confidentially and conveniently submit all your tax documents to us via our secure CLIENT PORTAL. Our portal is available 24/7 and allows you the flexibility of sending us your documents from the comfort of your own home.
