Canada Revenue Agency (CRA) announced this morning (July 27), that they are again extending the deadline for tax payments.  

The previous extension was to Sept. 1, 2020, and now it is Sept. 30. The deadline extension is for current year individual, corporate, and trust income tax returns, including instalment payments. Penalties and interest will not be charged. As long as taxes are filed by Sept. 30, this also includes the late-filing penalty. 

The CRA is also waiving interest on existing tax debts related to individual, corporate, and trust income tax returns from Apr. 1 to Sept. 30, 2020 and from Apr. 1 to June 30, 2020 for goods and services tax/harmonized sales tax (GST/HST) returns. 

This doesn’t cancel penalties and interest already assessed on a taxpayer’s account prior to this period, but it means the debt won’t keep growing. 

For updates on CRA changes due to COVID-19, click HERE.