Tax Measures Under Canada’s COVID-19 Economic Response Plan

  • corporations may defer filing T2 returns otherwise due in June, July or August 2020, to September 1, 2020;
  • trusts having a taxation year ending on December 31, 2019, could defer filing T3 returns until May 1, 2020. The deadlines for trust returns that would otherwise be due in June, July or August in 2020, have been extended to September 1, 2020;
  • partnerships and their members could defer filing T5013 returns until May 1, 2020; and
  • the deadline to file NR4 information returns was extended to May 1, 2020.
  • the filing of information returns under Part XVIII and Part XIX of the Income Tax Act may be deferred until September 1, 2020. No interest or penalty will be assessed during this period. In addition, no penalty will apply for failure to obtain a self-certification on financial accounts opened before January 1, 2021.

Additionally, unless otherwise noted by the CRA, administrative income tax actions required of taxpayers by the CRA due after March 18, 2020 can be deferred until June 1, 2020. Such actions include the filing of:

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