Canada: Proposal to extend tax, legal deadlines (COVID-19)

Canada: Proposal to extend tax, legal deadlines

Canada’s federal government on 19 May 2020 released proposed legislation that would allow certain deadlines in response to the coronavirus (COVID-19) pandemic.

1000

Related content

The proposal would temporarily suspend certain federal legislation and certain regulatory time limits for legal proceedings before the courts to as late as 13 September 2020.

The proposal could also affect certain tax deadlines—such as the filing deadline for scientific research and experimental development (SR&ED) claims—and the periods that the Canada Revenue Authority (CRA) is able to make an assessment or reassessment.

The government will accept comments on these proposals until 29 May 2020.


KPMG observation

It is not yet known whether the government will use this legislation to postpone any upcoming tax deadlines or reassessment periods. Accordingly, taxpayers need to watch this development so that they are aware of any potential delays that may affect their rights and obligations.

Read a May 2020 report 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