Canada and Québec government updates: Extended filling and payment deadlines

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New extension deadline for tax filing and payment deadlines (July 27, 2020) 

The CRA announced an extension to the payments due dates for 2019 individual, corporate, and trust income tax returns, including instalment payments that were due on September 1, 2020 to September 30, 2020. No penalties and interest will be charged, for payments that are made by the extended deadline of September 30, 2020.

Revenu Québec announced a new deadline for filing for 2019 individual, corporate, and trust income tax returns, including instalment payments until September 30th, 2020.

 

 

Extensions to both income tax filing and payment deadlines were introduced as follows:

 

Federal Tax Filing Updates

  • The deadline for filing 2019 personal T1 tax returns is deferred until September 30, 2020 (Previous: September 1, 2020)
  • The deadline for filing 2019 T3 tax returns for trusts is deferred until September 30, 2020 (Previous: September 1, 2020 )
  • The deadline for filing T2 corporations income tax returns and trusts whose normal filing due date falls in June, July, or August 2020 has been further extended to September 30, 2020 

 

Federal Tax Payment Updates

  • For individuals, the 2019 tax payment deadline is now due September 30, 2020 (Previous: September 1, 2020)
  • The 2019 taxation year for individuals (or their spouse) who operate a business, instalment payments are now due September 30, 2020 (Previous: September 1, 2020)
  • For trusts (other than specified investment flow-through entities) the 2019 balance owing are now due September 30, 2020 (Previous: September 1, 2020)
  • For corporations, any income tax payments (instalment payments and balances due) due March 18, 2020 – August 31, 2020, are now due  September 30, 2020 

 

Québec Tax Filing Updates

  • The deadline for tax filing individual taxpayers be deferred to September 1, 2020 (Previous: April 30th)
  • The deadline for tax filing for Trusts will be deferred until May 1, 2020 (Previous: March 30th)
  • The deadline for tax filing corporations are now due September 1, 2020
  • The deadline for tax filing for partnerships will be deferred until May 1, 2020 (Previous: March 31, 2020)

 

Québec Tax Payments Updates

  • For individuals, the 2019 tax payment deadline is now September 30, 2020 (Previous: September 1, 2020)
  • For individuals (or their spouse) who operate a business, instalment payments are now due September 30, 2020 (Previous: September 1, 2020)
  • For trusts, the balance owing for the 2019 deadline is September 30, 2020. (Previous: September 1, 2020.)
  • For corporations, any income tax payments (instalment payments & balances due) due March 18, 2020 – August 31, 2020, are now due September 30, 2020.

 

Business tax measures

Income Tax payments

For the next four weeks, there will be no contact to any small or medium-sized business for assessment of GST/HST or income tax audits from the CRA.

For the vast majority of businesses, the CRA will temporarily suspend audit interaction with taxpayers and representatives.

  • All taxpayers to defer, until September 1, 2020, the payment of any income tax amounts that become owing on or after March 18, 2020 – September 2020. 
  • This relief applies to tax balances due and instalments under Part I of the Income Tax Act.
  • No interest or penalties will accumulate on these amounts during this period

 

 

Other individual relief measures

  • GST credit will be doubled for eligible recipients and the additional credit will be paid in one lump-sum in early May
  • Canadian child tax benefits will be increased by $300 per child and this additional benefit will be paid in one lump-sum together with the scheduled May 20, 2020 payment
  • Canadian and Québec moratorium on student loan interest for 6 months
  • The City of Montréal delayed the second instalment of property and business tax to July 2 (Previous: June 1). Click here for details.

 

 

Additional Resources:

 

 

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