Tax Filing Measures

 

This page was last updated: May 20, 2020 **Disclaimer: We strive to update the information on this page as quickly as possible.

 

The Canada Revenue Agency recently announced measures to help Canadians who are experiencing hardships during the COVID-19 outbreak with filing their taxes.

Below are some measures available for both personal and business filing, as well as frequently asked questions.

Individual Tax Filing Measures:

 

GST Credit:

  • The Government will be providing a one-time special payment by early May through the Goods and Services Tax credit for low- and modest-income families.
  • The average additional benefit will be close to $400 for single individuals and close to $600 for couples.
  • According to the Government, payment is expected to be available on April 9, 2020
  • There is no need to apply for this payment. If you are eligible, you will get it automatically.

 

Enhanced Canada Child Benefit:

  • According to the Government, eligible recipients will receive up to $300 more per child with their regular May CCB payment.
  • If you have previously applied for the CCB, you do not need to re-apply.
  • For more information on the Canada Child Benefit such as how to apply and eligibility requirements, go to Canada child benefit or call 1-800-387-1193.

 

How will those retiring or using their pensions be affected?

  • The Government is to reduce minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25 per cent for 2020 in recognition of volatile market conditions and their impact on many seniors’ retirement savings.

 

Business Tax Filing Measures:

  • The tax filing date for self-employed individuals and their spouse or common-law partner: June 15, 2020
  • The tax filing date for corporations: June 1, 2020
  • CRA will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This applies to tax balances due, as well as instalments, under Part I of the Income Tax Act, and no interest or penalties will accumulate on these amounts during this period.
  • CRA will not contact any small or medium (SME) businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. Audit interaction with taxpayers and representative will be suspended temporarily for most businesses.
  • The Liaison Officer service is now available over the phone to ensure small businesses are aware of any changes such as filing and payment deadlines and relief measures.
  • For more information on tax filing measures for businesses, visit: https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html

 

GST/HST Payments:

  • Businesses, including self-employed individuals, will be able to defer their GST and HST payments until June 30, 2020.
  • Custom duties owed for imports will also be deferred until June 30, 2020.

 

I would like to obtain a paper copy of the tax forms. How do I do that? 

  • You can order a paper form by calling 1-855-330-3305

 

If I’m unable to file my taxes on time, will my benefits be cut off?

  • If you are unable to file your taxes by the June 1 deadline, the Federal government has said that you will continue to receive benefits payments for an additional three months.
  • This means that if you receive benefits like the GST/HST credit and/or the Canada Child Benefit (CCB), you will continue to receive those payments until the end of September 2020 unless you file your taxes.
  • According to the Government, if your 2019 tax return isn’t received and assessed by early September 2020, estimated benefits and/or credits will stop in October 2020 and you will need to repay the amounts that were issued as of July 2020.
  • It is strongly encouraged that you file your taxes on time to make sure that you receive the right amount of benefits.

 

Is there any free tax filing clinics in Haldimand-Norfolk?

  • Each year, there are many free tax clinics across both Haldimand and Norfolk counties. However due to COVID-19, many are following Public Health guidelines and aren’t operating this year.
  • The Simcoe Caring Cupboard will be hosting free tax clinics, by appointment only.
  • If you are low income and need assistance filing your taxes this year, please visit the following link for contact information: https://info-bhn.cioc.ca/record/SIM1371

This page was last updated: May 20, 2020 **Disclaimer: We strive to update the information on this page as quickly as possible.