The annual deadlines to file and pay taxes have been extended
By Erika Morris
Photo: iStock/Osarieme Eweka.
The federal and Quebec governments announced recently that individual taxpayers now have an extra month to file their taxes. The deadline to file returns has been extended to June 1, and the deadline to send in any balance owing without incurring a penalty is now Sept. 1. Businesses also have until Sept. 1 to pay outstanding balances.
Both the Canada Revenue Agency and Revenu Québec nevertheless encouraged taxfilers, especially those expecting a refund, to file by the original April 30 deadline and promised that refunds would be processed as usual.
The new deadlines are part of a series of financial measures intended to offer Canadians economic relief during the coronavirus outbreak. Many businesses and schools have had to shut down, leaving many in the dark when it comes to finances.
“The CRA continues to monitor the evolving situation closely, in collaboration with other government departments and agencies as well as our provincial and territorial partners,” a CRA spokesperson said in a statement to the National Post. “The Government of Canada is currently evaluating measures to address financial hardship for Canadian taxpayers and businesses, including possible changes to the personal income tax filing season. Updates will be shared as they become available.”
Businesses and tax experts had been calling for such measures as the COVID-19 crisis continued to escalate.
“Small business owners, big business, citizens—it’s difficult for everyone,” Quebec’s Finance Minister Éric Girard told reporters.