Quebec: Relief granted for filing 2019 tax returns and paying taxes payable
MEASURES CONCERNING INCOME RETURNS FOR THE 2019 TAX YEAR AND THE PAYMENT OF RELATED TAX
Dear Madam,
Dear Sir
Today, the Quebec government is announcing relief for taxpayers by extending the deadline for filing tax returns and paying taxes and instalments.
Don't hesitate to contact one of Mallette's tax specialists or partners in your region among our 30 offices for more information: mallette.ca/nous-joindre
DELAYS FOR INDIVIDUALS
For individuals whose normal deadline for filing their tax return for 2019 is 30 April 2020, the deadline has been extended to 1 June 2020. However, tax payments (including social security contributions) arising from the tax return may be made no later than 31 July 2020, without interest or penalties. However, the Minister of Finance invites individuals who anticipate a tax refund to file their tax return within the normal deadlines, since refunds will be made within the same deadlines as under normal circumstances.
For individuals carrying on a personal business and their spouse, the deadline for filing the tax return remains unchanged. It must therefore be filed by 15 June 2020. However, payment of the taxes (including social security contributions) arising from the tax return may also be made by 31 July 2020 at the latest, without interest or penalties. Instalments for 2020 due by 15 June 2020 will be suspended until 31 July 2020 and will have to be paid at a later date to be announced by the Ministry of Finance.
DELIVERY FOR COMPANIES
The deadline for filing corporate tax returns remains the usual one, i.e. 6 months after the company's financial year-end. However, the payment of taxes due between 17 March 2020 and 31 July 2020 is suspended until a date after 31 July to be announced by the Ministry of Finance, without penalty or interest. The company's taxes become due two months after the company's financial year-end. For information purposes, the companies concerned are those with a financial year ending between 17 January and 31 May 2020.
Instalments for 2020 due between 17 March 2020 and 31 July 2020 will also be suspended until a later date to be announced by the Ministry of Finance, without interest or penalties.
DELIVERY FOR TRUSTEES
The tax return filing deadline for trusts with a March 30, 2020 tax return filing deadline is extended to May 1, 2020.
In addition, payment of the taxes arising from these tax returns can be made no later than 31 July 2020, without interest or penalties.
As regards the instalments for the year 2020 due by a trust on or before 15 June 2020, their payment is suspended until 31 July 2020 and will have to be made at a later date to be announced by the Ministry of Finance, without interest or penalties.
Note that all of these measures do not apply to SIFT trusts.
FILING DEADLINES FOR FEDERAL INCOME TAX RETURNS AND DEADLINES FOR PAYMENT OF THE TAXES THEREOF
At the time of writing, no measures have yet been announced regarding an extension of the filing deadlines for federal tax returns or the deferral of tax liabilities. However, announcements to this effect are expected in the next few days.
A special bulletin will be sent to you as soon as the Federal Government announces these measures.
Thank you for your time.