Canada Revenue Agency (CRA) - COVID-19 Update

Important changes to tax-filing and payment deadlines

Individual Tax 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 CRA will process refunds.

It can sometimes take up to five business days after the scheduled payment date to receive your benefit or credit payment. Please allow this time before calling the CRA.

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 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.

Tax Returns for Self-employed and their spouse or common law partner:

For self-employed individuals or those who have spouses or common-law partners that are self-employed, the deadline to pay any balance due for your individual income tax and benefit return has been deferred to August 31, 2020, however your income tax and benefit returns still needs to be filed by June 15, 2020.

Tax Returns for Businesses:

The CRA will allow all businesses 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.

The Canada revenue Agency has created a page that lists important changes and information, some of which affect tax-filing and payment deadlines, and the ways you can interact with the CRA. [READ HERE].