Businesses now have until September 1, 2020 to make certain tax filings, as a result of the economic impact of COVID-19.
Although some information about these tax filing extensions was already known, the CRA has now officially confirmed full details of these changes in an announcement that will provide certainty for affected partnerships, corporations and trusts. The CRA updated its site to reflect these extensions on June 1, 2020.
Under these extensions, trusts and corporations will have until September 1, 2020 to file income tax returns otherwise due May 31, or in June, July or August 2020. The CRA also extended the deadline for most information returns (including partnership information returns), elections, designations and information requests to September 1, 2020, where they were previously due on May 31, or in June, July or August 2020.
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