Shady Salah – Media in Toronto
Ottawa to give Canadians an extra month to file their taxes, with the new filing deadline expected to be June 1.
Individuals will now have until June 1 to file tax returns instead of April 30 to submit their income tax return to CRA. The deadline to pay off any outstanding balances interest-free will also be extended, this time to July 31.
Businesses will also have more time to pay their taxes without paying any interest or penalties. The new deadline will be July 31 to pay any corporate taxes or make any scheduled instalment payments that would otherwise be due starting Wednesday.
The step follows a move by the Quebec government to do the same for provincial tax returns.
It comes as federal and provincial governments are exploring all options to help Canadians and small and medium enterprises to cope with the losses from the outbreak of the COVID-19.
“As we worked to harmonize our measures with our provincial partners, Canadians can expect more of the same measures in tomorrow’s federal announcement,” wrote Janick Cormier, the director of communications for Revenue Minister Dianne Lebouthillier.