CRA Filing Updates
As per the CPA Canada website:
On March 18, 2020, the federal government released information on tax extensions and other changes that have become necessary due to the COVID-19 crisis. Although this was welcomed news, there is still some uncertainty as the announcement did not provide a comprehensive update on all tax deadlines that are soon approaching.
The specific measures in the announcement include the following
- Personal returns — The deadline for filing T1 returns that were due on April 30, 2020 has been extended to June 1, 2020. Individuals expecting a refund or benefits should file sooner if possible, as the Canada Revenue Agency (CRA) will process refunds.
- Trust returns — For trusts having a taxation year ending on December 31, 2019, the return filing due date will be deferred until May 1, 2020.
- Income tax payments for all taxpayers — The CRA 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 income tax balances due, as well as instalments and no interest or penalties will accumulate on these amounts during this period.
It should also be noted that no mention was made on relief for GST/HST for businesses.
On CRA services, they have sent most staff home and will focus on essential services including the continuity of benefit payments and associated functions while cutting back activities in other areas. Although the CRA will continue to respond to incoming calls at call centres, they will operate at a significantly reduced capacity and may give priority to enquiries related to benefits.
The government also announced that benefits such as the Canada Child Benefit and the GST credit will be enhanced.