Canada proposes certain extensions to federal statutory deadlines, due to COVID-19.
The government released proposed legislation on May 19, 2020 to allow deadlines to be suspended temporarily for certain federal legislation and extend certain regulatory time limits for legal proceedings before the courts to as late as September 13, 2020. This proposal could also affect important tax deadlines, such as the filing deadline for Scientific Research and Experimental Development (SR&ED) claims, and the periods that the CRA is able to make an assessment or reassessment. The government will accept feedback on these proposals until May 29, 2020.
Although it is not yet known whether the government will use this legislation to postpone any upcoming tax deadlines or reassessment periods, taxpayers may want to follow this development to ensure that they are aware of any potential delays that may affect their rights and obligations.
Download this edition of the TaxNewsFlash to learn more.
© 2021 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.