CRA Payment Deadline Extension

CRA has provided additional relief for taxpayers with a payment deadline extension for current year personal, corporate and trust income tax returns to September 30, 2020.  Penalties and interest will not be charged on amounts owing, including instalment payments as long as payments are made by September 30.  This also includes late-filing penalties if your tax return is filed by that date.  Interest on existing tax debts is also being waived from April 1, 2020 to September 30, 2020. 
​
It's important to also note that benefits and credits will stop in October 2020 for individuals who haven't yet filed their personal income tax return for 2019.  If you still need to file, be sure to do so as soon as possible to ensure there are no delays or interruptions in these benefit payments.

Please contact me for a free consultation if you have any questions or if you need assistance with filing your tax return. 

- Cheryl