Canada Revenue Agency (CRA) is already deferred income tax return filling deadline date for individuals and is coming to help Canadian businesses as well.
CRA will allow all businesses to defer until the end of June 2020 any GST/HST payments or remittances that become owing on or after March 27, 2020, and before June 2020. No interest will apply if the instalment payment amounts are paid by the end of June 2020.
The deadline for businesses to file their returns is unchanged. Those who are able to, should continue to file their GST/HST returns on time reporting their net tax for the reporting period to help facilitate tax compliance and administration. However, recognizing the difficult circumstances faced by businesses, the Canada Revenue Agency won’t impose penalties where a return is filed late provided that it is filed by June 30th.
Paper copies of GST/HST returns will not be processed until normal operations resume. CRA encourages registrants to file electronically.
Only the GST/HST rebate applications filed electronically for Federal, Provincial and Territorial Governments, Ontario First Nation HST Point-of-Sale and Public service bodies with the CRA can be processed automatically unless they require client contact or additional review. Electronically filed Housing and General rebate applications are manually assessed and won’t be processed until operations resume.
For the latest update regarding COVID-19 measures check CRA website:
Check also: $5.5 billion GST rebates to help who lost income due to COVID-19.