close
Share with your friends

Canada: Extended tax deadlines, other tax relief (COVID-19)

Canada: Extended tax deadlines, other tax relief

Canada’s Prime Minister and Minister of Finance on 18 March 2020 announced new financial and tax measures in response to the coronavirus (COVID-19) epidemic.

1000

Related content

In addition to certain extended tax deadlines, there are proposed financial measures for Canadian individuals and businesses affected by the COVID-19 outbreak, such as:

  • The Canada Revenue Agency would delay tax filing deadlines for individuals to 1 June 2020 and for trusts to 1 May 2020.
  • Taxpayers that owe income tax balances and income tax instalments on or after 18 March 2020 and before September 2020 would have until 1 September 2020 to remit these amounts.
  • A temporary wage subsidy would be provided to help small businesses retain employees and an emergency care benefit to offer financial support to affected individuals. 

Emergency legislation is to be tabled to implement these measures.

Read a March 2020 report [PDF 198 KB] prepared by the KPMG member firm in Canada

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal