Federal Economic Response Plan: Additional filing deadline extensions ‑ COVID‑19
Tax Alert No. 25, 27 March 2020
The additional deadline extensions are as follows:
- Corporate income tax returns – Any income tax return filing due date after 18 March 2020 is deferred until 1 June 2020. Although the CRA’s announcement is not specific on this particular extension, we understand that the CRA’s extension to 1 June 2020 applies to all taxpayers, unless indicated otherwise.
- Partnerships information returns – Any income tax information return filing due date after 18 March 2020 is deferred until 1 May 2020.
- Trust information returns – Any income tax information return filing due date after 18 March 2020 is deferred until 1 May 2020.
- Non-residents information returns – The deadline to file Form NR4, Statement of Amounts Paid or Credited to Non-Residents of Canada, is extended to 1 May 2020.
- Other forms, elections, etc. – Administrative tax actions required under the Income Tax Act that are due after 18 March 2020 are deferred until 1 June 2020. This includes the filing of returns (other than those already noted above or previously announced), forms, elections, designations and responses to information requests. For example, this would cover the filing of Form T1134, Information Return Relating to Controlled and Not-Controlled Foreign Affiliates.
However, this filing deferral announcement does not apply to:
- Income tax payments (including instalments) for which deferral to 1 September 2020 was previously announced (see EY Tax Alert 2020 Issues No. 15 and No. 20);
- Corporate taxes under Part IV, Part VI.1, and Part XIII of the Income Tax Act and other tax payments under the Act (no relief announced to date);
- Payroll deductions (including related activities, other than those related to the reduction of remittances for the new temporary wage subsidy – see EY Tax Alert 2020 Issue No. 24 for more information on the subsidy); or
- Form T661, Scientific Research and Experimental Development (SR&ED), Form T2038(IND), Investment Tax Credit (Individuals), Form T2 Schedule 31, Investment Tax Credit – Corporations, or any prescribed forms, receipts, documents or prescribed information related to these three forms.
GST/HST and import duties
In addition, in a press conference on 27 March 2020, Canada’s prime minister Justin Trudeau announced that the remittances of GST/HST, as well as import duties, would be deferred until 30 June 2020. More specifically, the following remittances will be deferred:
- GST/HST monthly filers’ remittances of amounts collected for the February, March, and April 2020 reporting periods;
- GST/HST quarterly filers’ remittances of amounts collected for the 1 January 2020 through 31 March 2020 reporting period;
- GST/HST annual filers’ remittances of amounts collected and owing for their previous fiscal year, as well as instalments in respect of their current fiscal year, that are due in March, April or May 2020;
- Payments owing for customs duties and GST on imports for March, April, and May 2020 statements of account.
Quebec announced that the March, April, and May 2020 QST remittances will be similarly deferred to 30 June 2020.
Learn more
For more information, please contact your EY advisor.
Budget information: For up-to-date information on the federal, provincial and territorial budgets, visit ey.com/ca/Budget.
