COVID-19: New CRA Income Tax Deadlines

Posted April 7, 2020

Due to the COVID-19 pandemic, the Canada Revenue Agency (CRA) has announced extended deadlines for the filing and payment of income tax returns, as follows:

    • May 1, 2020: deadline for filing tax returns for trusts with a tax year end date of December 31, 2019.
    • June 1, 2020: deadline for filing tax returns for individuals, corporations and trusts that would otherwise have a filing due date in April or May.
    • June 15, 2020: deadline for filing tax returns for individuals (and spouse or common law partner) who are self-employed (unchanged).
    • September 1, 2020: deadline for payment on income tax for individuals (including those who are self-employed) and corporations.  Note that some individual taxpayers may have received a Notice of Assessment with a due date for payment of April 30, 2020; this information is outdated.

Despite these extended filing dates, it may be beneficial to file income tax and benefit returns before June 1, 2020 to ensure that benefits and credits are not interrupted.

The filing date for charities has been extended to December 31, 2020.  This deadline applies to charities with Form T3010 (Registered Charity Information Return) due between March 18, 2020 and December 31, 2020. This form requires the disclosure of certain financial information to the CRA. If a charity does not file its information return, its registered status will be revoked and consequently it will no longer be exempt from tax (unless another exemption applies); it will be unable to issue official donation receipts; and it will have to transfer its property to an eligible donee or be subject to a revocation tax equivalent to the full value of its remaining assets under Part V of the Income Tax Act.

Taxpayers who are unable to file a return or make a payment by the tax-filing and payment deadlines because of COVID-19 can request the cancellation of penalties and interest charged to their account. Penalties and interest will not be charged if the new deadlines that the government has announced to tax-filing and payments are met. Once business operations resume, the Taxpayer Relief Program will review requests related to COVID-19 on a priority basis.

For more on extended tax filing deadlines for corporations, read our summary on new rules for not-for-profits and charities during the COVID-19 pandemic here.

Note: This article provides general information only and does not constitute, and should not be relied upon as, legal advice or opinion. PooranLaw Professional Corporation holds the copyright to this article and the article and its contents may not be copied or reproduced in any form, in whole or in part, without the express permission of PooranLaw Professional Corporation.