COVID- 19 & THE NEW CANADIAN INDIVIDUAL INCOME TAX DEADLINES
The New Canadian Individual Income Tax Deadlines - Due to the Covid-19 pandemic, the Canada Revenue Agency (CRA) has announced new filing and payment deadlines for the 2019 individual personal income tax returns.
The April 30, 2019 deadlines for both filing and paying personal income taxes have now been moved to June 1, 2020 for filing income tax returns and September 1, 2020 for the payment of outstanding income tax balances.
Update to Post: The deadline for self-employed individuals and their spouses to file their personal income tax returns remains at June 15, 2020.
If you are expecting a refund, you should still plan to file your income tax return as soon as possible. The money is of better use in your hands rather than that of the government. The sooner you receive your refund the better off you will be to weather the current economic storm.
It is advisable to seek professional advice to understand the tax laws that impact your particular situation, and to guide you through the complexities of Canadian Income taxes.
AWFS Consulting Inc. offers professional tax, business advisory, and accounting services to clients. The company’s mission is to offer financial leadership and support to clients in this ever-changing economic environment by empowering clients with financial knowledge.