Business Tax Filing and Payment Deadline Changes
The corporate filing date for the current tax year is extended to June 1, 2020. This applies to corporations that would otherwise have a filing date after March 18 and before June 1, 2020.
For Partnerships with a December 31, 2019 year-end, the due date for the T5013 tax filings will be deferred to May 1, 2020.
Businesses can defer until September 1, 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.
GST/HST remittances – business can defer until June 30, 2020 as follows:
- Monthly filers - amounts collected for the February, March and April 2020 reporting periods;
- Quarterly filers - amounts collected for the January 1, 2020 through March 31, 2020 reporting period; and
- Annual filers – return balances or instalment that are due in March, April or May 2020.
See link to COVID-19 Cash Flow Planning for Businesses.
How to Get Documents to Virtus Group
The best way to ensure the deadlines can be met is providing your corporate information to Virtus Group as soon as it is ready. In the interest of protecting our staff and clients, we are suspending all in-person meetings. As recently emailed, we believe that providing the information electronically is the best method for both yourselves and Virtus Group to minimize interpersonal contact and any travel required. Security is a significant consideration with sensitive information like your tax returns, so our ShareFile software allows secure transmission of information directly to our offices without risk of interception like an email. Software backups, Word and Excel documents, scanned copies, PDF files or even quality photos of the corporate information can be submitted here.
Alternatively, if electronic submission is not possible, records can be mailed to 200 – 157 2nd Ave N, Saskatoon, SK S7K 2A9 or 200 - 2208 Scarth St, Regina, SK S4P 2J6, or couriered/dropped off in person. At the current time, while our employees will be working remotely from home, our office will remain open to accept deliveries during regular business hours for those who are unable to send their information electronically. However, due to the nature of the situation, the office may be forced to close with minimal advanced notice. Therefore, we recommend you call our office at 306-653-6100 in Saskatoon and 306-522-6500 in Regina before scheduling deliveries.
We can help you with Business Tax Filing or any other accounting or business needs you may have. Contact us and we'll be in touch soon.