COVID-19 – CRA Extends Tax Deadlines

Although it is appropriate for the CRA to address both filing and payment due dates during this extraordinary time, the relief announced on March 18, 2020 is inadequate given the severity of the crisis in Canada and around the world.

As concerned Canadians, we believe the relief for ALL TAXPAYERS should have been more suitably extended as below:

  In order to provide greater flexibility to all Canadian
  taxpayers experiencing hardships during the COVID-19
  outbreak, the Canada Revenue Agency should have
  deferred the filing due date for all income tax filings from
  today and before August 31 as follows:

  All due dates under the Income Tax Act should have been
  deferred to the earlier of:

  • 4 months from the original due date, and
  • August 31, 2020.

  The Canada Revenue Agency should have allowed all
  taxpayers to defer, until after August 31, 2020, the
  payment of any income tax amounts that become owing
  on or after today and before September 2020. This relief
  should have applied to tax balances due, as well as
  installments, under Part I of the Income Tax Act with no
  interest or penalties accumulating on these amounts
  during this period. 

This suggestion does not address filings under the Income Tax Regulations (eg. T5013 – Partnership), but perhaps the Canada Revenue Agency should also take into consideration compliance required under the Regulations and address HST/GST filings and payments.

Extraordinary times require extraordinary action, Canada Revenue Agency. Thank you for your consideration of this.