ARTICLE · 06 JULY 2020

Canada's COVID-19 Economic Response Plan Regarding Taxation

Thompson Dorfman Sweatman LLP

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The Government of Canada has released its detailed economic response plan to the COVID-19 outbreak. (Update: May 21)

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(Update: May 21): Included in this plan are the following measures relating to taxation and the Canada Revenue Agency ("CRA"):

The Government of Canada has provided a plan, including the following measures relating to taxation.

Filings

All taxpayers may defer the payment of any income tax amounts that would become owing on or after March 18, 2020 and before September 1, 2020 (applicable to Part I of the Income Tax Act(Canada)) until after August 31, 2020.
Filings for individuals (other than trusts): due date for filing is deferred until June 1, 2020.
Filings for corporations: due date for filing is extended to June 1, 2020 for those corporations that would otherwise have a filing due date after March 18, 2020 and prior to June 1, 2020.

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