Economic response to Covid-19 for businesses in Canada

The Canada Revenue Agency will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18, 2020 and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

The deferral is only for income tax, the due dates for filing and payment of GST and payroll deductions remain unchanged.

The Canada Revenue Agency 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. For the vast majority of businesses, the Canada Revenue Agency will temporarily suspend audit interaction with taxpayers and representatives.

For more details please visit: https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#more_time_to_pay_their_income_taxes