March 30, 2020
Canada Revenue Agency announces additional filing deadline extensions
On 26 March 2020, the Canada Revenue Agency (CRA) announced certain filing deadline extensions, in addition to those announced in the Government’s Economic Response Plan, which was released on 18 March 2020 (see EY Global Tax Alerts, Canada announces certain tax measures to support Canadians and businesses, dated 19 March 2020, and Canada announces Economic Response Plan, dated 23 March 2020 for more information).
The additional deadline extensions are:
- 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.
- Nonresidents 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 installments) for which deferral to 1 September 2020 was previously announced (see EY Global Tax Alerts, Canada announces certain tax measures to support Canadians and businesses, dated 19 March 2020, and Canada announces Economic Response Plan, dated 23 March 2020)
- 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 Global Tax Alert, Canada introduces Federal Wage Subsidy Program, dated 27 March 2020 for more information on the subsidy)
- 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.
Goods and Services Tax (GST)/Harmonized Sales Tax (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.
For additional information with respect to this Alert, please contact the following: