The CRA has provided some additional guidance regarding the personal tax filing deadline.
As previously announced, individuals who previously had a personal income tax filing deadline of April 30, 2020 has had their deadline extended until June 1, 2020. Penalties and interest will not be charged if payments are made by the extended deadline of September 1, 2020.
It is important to note that if you or your spouse are self-employed, you still have until June 15, 2020 to file your taxes. In both of these situations your payment deadline has been extended to September 1, 2020.
This payment extension also applies to installments typically due June 15, 2020, and no interest or penalties will be charged for this payment if it is made before the extended deadline of September 1, 2020.
It is still recommended that individuals file their personal tax return even though there will be no interest or penalties for late filing as it could impact your credit payments including the GST credit. You will still continue to receive payments based off of your 2018 return, but to ensure that you will receive the right amounts it is important to file by the deadline. This also applies if you are entitled to a refund, filing on time will ensure that you get your refund as soon as possible.
For more information please see the CRA website for updated information and additional news: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2020/filing-2019-taxes-covid19-crisis.html?utm_source=mediaroom&utm_medium=eml