Covid-19 Tax Filing Due Dates and Support for Canadians

Due to the impact of the COVID-19 outbreak, there has been changes made to upcoming due dates

Individual Due Dates

RRSP Contributions-March 1, 2020
The deadline for contributing to an RRSP for the 2019 tax year. The limit for RRSPs is 18% of the previous year's earned income or $26,500 whichever is lower less the Pension Adjustment (PA).

Personal Income Tax Return Filing Due Date June 1, 2020 (Normally April 30, 2020)
The Government is deferring the filing due date for the 2019 tax returns of individuals. For individuals (other than trusts), the return filing due date will be deferred until June 1, 2020. They will also allow any new income tax balances due, or installments, to be deferred until after September 30, 2020, without incurring interest or penalties.

Self-employed Due Dates

Filing Due Date- June 15, 2020 (No Change)
The due date for personal tax returns of individuals with self-employed business income, or spouses/common-law partners of taxpayers with self-employed business income. Any balance owing must be paid by September 30, 2020.

Second Personal tax installment due from taxpayers who are required to remit quarterly

Corporations Due Dates

Businesses will have more time to pay Corporate tax balances
All businesses can defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020. This relief would apply to tax balances due, as well as installments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

December Calendar Year-End Filing Due Date- June 1, 2020 (Normally March 31, 2020)
Deadline for Corporation with a calendar year-end of December 31, 2019, to file their corporate tax return, so as not to incur interest charges on amounts owing. The due date for paying balances is September 30, 2020.

Deadline to file annual HST return for Corporation with a December year-end.

Deferral of GST/HST Remittances

The CRA will allow all businesses to defer, until the end of June 2020, any GST/HST payments or remittances that become owing on or after March 27, 2020, and before June 2020. This means that no interest will apply if your payments or remittances are made by the end of June 2020.

This includes HST/GST installment payments that are due April 30, 2020.

Note: The deadline for businesses to file their returns is unchanged. Those who are able to should continue to file their GST/HST returns reporting their net tax payable for the period.

Support For Canadians

Contact us if you have questions related to the above filing Due Dates