COVID-19 UPDATE: Extension of certain tax deadlines
To simplify the lives of individuals and businesses affected by the exceptional situation stemming from COVID-19, the government has applied flexibility measures for individuals and businesses in Canada during income tax filing season.
FOR INDIVIDUALS
CANADA
New deadline to file income tax returns: June 1
New deadline to pay taxes: After August 31
For those who pay in instalments, the June 15, 2020, instalment is suspended until August 31, 2020. The date and terms of payment of this amount will be announced at a later date.
QUEBEC – REMINDER
New deadline to file income tax returns: June 1
New deadline to pay taxes: August 31
For those who pay in instalments, the June 15, 2020, instalment is suspended until July 31, 2020. The date and terms of payment of this amount will be announced at a later date. Individual taxpayers will be given a reasonable timeframe to pay the amount due.
FOR BUSINESSES
CANADA
Deadline to file tax returns: remains the same
New deadline to pay taxes: After August 31
The payment of instalments and taxes due as of March 18 is suspended until August 31. The date and terms of payment of these amounts will be announced at a later date.
QUEBEC – REMINDER
Deadline to file tax returns: remains the same
New deadline to pay taxes: August 31
The payment of instalments and taxes due as of March 17 is suspended until July 31. The date and terms of payment of these amounts will be announced at a later date. Businesses will be given a reasonable timeframe to pay the amounts due.
NEW FROM MARCH 27, 2020: Filing and payment of sales tax for periods starting March 27, 2020 until June 1, 2020 is postponed until June 30, 2020.
FOR TRUSTS*
*For trusts whose tax year ends on December 31, 2019.
CANADA
New deadline to file tax returns: May 1
New deadline to pay taxes: After August 31
For those who pay in instalments, the June 15, 2020, instalment is suspended until August 31, 2020. The date and terms of payment of this amount will be announced at a later date.
QUÉBEC – REMINDER
New deadline to file tax returns: May 1
New deadline to pay taxes: August 31
For those who pay in instalments, the June 15, 2020, instalment is suspended until July 31, 2020. The date and terms of payment of this amount will be announced at a later date. Individual taxpayers will be given a reasonable timeframe to pay the amount due.
Here are a few tables that summarize the new measures taken:
New filing extensions
| TAXPAYERS | USUAL FILING DEADLINES | NEW FILING DEADLINES | |
|---|---|---|---|
| Federal and Provincial | Provincial | Federal | |
| Individuals | April 30, 2020 | June 1, 2020 | June 1, 2020 |
| Self-employed individuals | June 15, 2020 | No extension | No extension |
| Corporations | 6 months after the year-end | No extension | No extension |
| Trusts (ending December 31, 2019) | March 30, 2020 | May 1, 2020 | May 1, 2020 |
New payment extensions
| TAXPAYERS | USUAL PAYMENT DEADLINES | EXTENDED PAYMENT DEADLINES | |
|---|---|---|---|
| Federal and provincial | Provincial | Federal | |
| Individuals | April 30, 2020 | August 31, 2020 | After August 31, 2020 (date not yet specified) |
| Self-employed individuals | April 30, 2020 | August 31, 2020 | After August 31, 2020 (date not yet specified) |
| Corporations | Payments between March 17 /18 2020 and August 31, 2020 |
August 31, 2020 | After August 31, 2020 (date not yet specified) |
| Trusts (ending December 31, 2019) | March 30, 2020 | August 31, 2020 | After August 31, 2020 (date not yet specified) |
New dates for June 15, 2020 instalment
| TAXPAYERS | USUAL PAYMENT DEADLINES | EXTENDED PAYMENT DEADLINES | |
|---|---|---|---|
| Federal and provincial | Provincial | Federal | |
| Individuals | June 15, 2020 | August 31, 2020 | After August 31, 2020 (date not yet specified) |
| Self-employed individuals | June 15, 2020 | August 31, 2020 | After August 31, 2020 (date not yet specified) |
| Corporations | Payments between March 17 /18 2020 and August 31, 2020 |
August 31, 2020 | After August 31, 2020 (date not yet specified) |
| Trusts (ending December 31, 2019) | 15 juin 2020 | August 31, 2020 | After August 31, 2020 (date not yet specified) |
Given the current situation, the Government of Québec may review the above deadlines in order to harmonize with those of Canada. If applicable, we will keep you informed.
If you have any questions, please contact LCA CPA LLP, the author of this post.