Calgary Accountants

On July 27, 2020, the Canada Revenue Agency announced new payment deadlines and interest/penalty policies designed to support Canadians through COVID 19. The payment due date for individuals, corporations and trusts has been extended to September 30, 2020. In addition, the CRA is also waiving interest on existing tax debts related to individual, corporate, and trust income tax returns from April 1, 2020, to September 30, 2020 and from April 1, 2020, to June 30, 2020, for goods and services tax/harmonized sales tax (GST/HST) returns. The CRA will also waive late filing fees provided the return is filed by September 30, 2020.

https://www.canada.ca/en/revenue-agency/news/2020/07/the-canada-revenue-agency-announces-an-extension-to-the-payment-deadline-and-offers-interest-relief-on-outstanding-tax-debts-during-the-covid-19-pa.html

Comments are closed.