I’ve had a number of clients wondering about when they have to file their 2019 taxes and more importantly when they have to pay CRA. I want to make this post as simple as possible for those of you that are wondering. Before we get into it, please note that this post does not cover “other” types of taxes like trusts, charities, or Part XIII non-resident taxes. The 2 more common types of taxes I am referring to are personal and business. Let’s first look at personal.
Personal taxes
If you were an employee in 2019 and received a T4 slip, or you have T5 investment income, RRSP income, or any other type of income that was personal in nature, the new extended deadlines to file and pay is as follows:
Filing date: June 1st, 2020
Payment date: Sept 1st, 2020
Self-employed and their spouse or common-law partner
If you were self-employed in 2019 the filing date is unchanged, however the payment date has been extended.
Filing date: June 15th, 2020
Payment date: Sept 1st, 2020
Corporations
Filing date: June 1st, 2020 if the corporation had a due date after Mar 18th and before June 1st, 2020.
Payment date: Sept 1st, 2020 applies to balances and instalments due on or after Mar 18th and before Sept 1st, 2020.
For more information, check out CRA’s website.