Today, the federal government announced Canada's COVID-19 Economic Response Plan (the
"Plan"), an $82 billion support plan for
individuals and businesses in response to the COVID-19 crisis.
Although specific details are sparse on the implementation of the
Plan, it appears to include the previously announced $10 billion
business stimulus package ("version March 13, 2020") and
a portion of the $1 billion support package ("version March
11, 2020").
SUPPORT FOR INDIVIDUALS
Filing due dates
The CRA has extended the due date for 2019 individual tax
returns to June 1, 2020. Trusts with a December 31, 2019, taxation
year-end will now have a return filing due date of May 1, 2020,
rather than March 30, 2020. No filing extension has been provided
to self-employed individuals, who will continue to have a June 15,
2020, due date. Also, trusts without a calendar year-end, such as
some estates (for example, "graduated rate estates") are
not granted any extensions.
