Saturday, May 18, 2024
ADVT 
National

CRA extends tax payment deadline to Sept. 30

Darpan News Desk The Canadian Press, 27 Jul, 2020 09:31 PM
  • CRA extends tax payment deadline to Sept. 30

Anyone who owes the federal government taxes will now have until the end of September to pay.

The Canada Revenue Agency says the payment deadline has been moved to Sept. 30 for individuals, corporations and trusts that had various deadlines through the month.

Penalties and interest on owed taxes on a 2019 return will accrue if payments aren't made by the new deadline.

The Liberals extended the tax payment deadline from the end of April in a bid to keep more money in the economy as it went into a sharp downturn due to the COVID-19 pandemic.

Federal estimates put the short-term price tag on the delay at $55 billion, which the government would then recoup once the new deadline hit.

Anyone who doesn't file their income taxes on time could be cut off from income-tested benefits like the Canada Child Benefit, or have to repay some of the money from those benefits if there's a large change from the previous tax year's return.

Low-income seniors who receive the guaranteed income supplement have to file their returns by Oct. 1 to avoid an interruption in benefits.

MORE National ARTICLES

Quebec tourists 'invade' Gaspe beaches

Quebec tourists 'invade' Gaspe beaches
Quebec's annual two-week construction holiday is in full swing, and with many Quebecers staying closer to home this summer because of COVID-19, towns in the Gaspe region are seeing an influx of tourists drawn to the charming seaside landscapes.

Quebec tourists 'invade' Gaspe beaches

Top court nixes video lottery terminal case

Top court nixes video lottery terminal case
The Supreme Court of Canada has ruled that a class-action lawsuit taking aim at video lottery terminals cannot proceed, saying Friday the claims made in the case are bound to fail.

Top court nixes video lottery terminal case

Helicopter removed from crash site in N.L.

Helicopter removed from crash site in N.L.
Members of the Transportation Safety Board of Canada have completed their work at the scene of a fatal helicopter crash in Newfoundland and Labrador.

Helicopter removed from crash site in N.L.

Mother charged in six-year-old's stabbing death

Mother charged in six-year-old's stabbing death
The mother of a six-year-old girl who died after she was stabbed in an east-end Montreal residence was charged Friday with second-degree murder.

Mother charged in six-year-old's stabbing death

Trudeau should quit over WE deal: Scheer

Trudeau should quit over WE deal: Scheer
Outgoing Conservative Leader Andrew Scheer says Prime Minister Justin Trudeau should resign over his role in the controversy involving the WE organization.

Trudeau should quit over WE deal: Scheer

Ottawa urged to hurry domestic vaccine funds

Ottawa urged to hurry domestic vaccine funds
The Trudeau government is being pressed to approve funding for a made-in-Canada COVID-19 vaccine to lessen the risk Canadians will have to line up and wait on a foreign-made pandemic cure.

Ottawa urged to hurry domestic vaccine funds