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Breaking: Trudeau announces deferred filing/payment deadlines and $82B emergency response package

Published on March 18, 2020

Today, Prime Minister Justin Trudeau unveiled the $82 billion COVID-19 emergency response package.  The package includes:
  • Temporary income support for workers and parents
  • Income support for low/modest income families including enhanced GST/CCB
  • Extended filing/payment deadlines
  • Temporary wage subsidies for eligible small employers for up to three months (limited to 10% of wages, $1375 per employee and $25,000 per employer)
  • Providing additional credit to businesses through the BCAP (BDC and EDC)
Individuals will now have until June 1, 2020 to file their personal tax returns and until after August 31, 2020 to pay any balances due.  Trusts with a year-end of December 31, 2019 will have until May 1, 2020 to file the returns.  Businesses can also defer payments until after August 31, 2020 for any amounts that become due today and before September 2020.  Note that no extension has yet been provided for the filing of corporate tax returns.
 
These announcements follow yesterday's announcement from Quebec's Finance Minister, Eric Girard, who stated that the deadline for filing Quebec personal tax returns will also be extended until June 1, with payments due by July 31, 2020.
 
We will continue to monitor the updates and provide additional information to individuals and businesses as they become available.
 
For more information please contact our office or visit the Government of Canada's website here: https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Flexibility_for_Tax-filers