2020 - A New Type of Deadline for a New Normal
I've been told I need a haircut but I can't get one. I've been told to stay home, but then I'm told I'm essential to help keep the government running. I've been told to take precautions such as reduced contact and reduced hours to help keep people safe and I've done that. Finally, I've been told June 1st is the new tax deadline.
For the first time in my 30 years of this business there is no clear cut deadline, previous to this there was only twice the deadline was extended and that was for just a week. With the June 1st and June 15th self employed deadline behind us we now look at the penalties for being late. The government has announced there are no penalties. Nothing will be charged if you file before September 1st. What about child tax benefits and HST payments, will they stop if not filed on time? The answer is no, they will continue until October based on 2018 figures if you don't file until September 1st. Essentially the new unannounced deadline is September 1st and who knows, even that could change.
In regards to self employed who have a deadline of June 15th the same rules apply. If you have an HST number you must file and pay the HST owing by June 30th or there could be interest charged, but again this could change. We are in an unprecedented situation where CRA has suspended collections, suspended enforcement, delayed most requests for re-assessment and until further notice, they have attempted to move everything to online only, basically saying mail will only be processed if it is something they requested.
The way the tax system has worked in the past has involved gradual changes and minor adjustments being introduced over longer periods of time. Now, if you add the unprecedented amount of government support payments being sent out along with the shift of many workers working from home the changes for the coming years are likely to be more wide ranging and immediate than ever. We, at Double J's Tax are doing everything we can to keep informed but there are somethings we can't predict, and this could be the new normal for awhile, a year without a tax deadline.
Double J's Tax
Where your taxes are our
Located conveniently at the corner of
Stone Church Rd. E. and Upper Ottawa in the Good Life Fitness plaza Hamilton Ontario.
At Double J’s you get many years experience behind every return. We know the new tax rules and how to make them work for you
We offer Triple A service
Attentive, Accurate, and Affordable
Doing your taxes and dealing with the government can be very stressful and intimidating. We strive to make this small, but important, part of your life easier.
Haven’t filed in a few years? Not a problem, we can do past years returns, and even review previous years returns to correct any errors or omissions.
Starting a new business, or even thinking of starting one? We offer a wide range of services from helping to handle the HST to financial statement and year end tax preparation.
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Due to the current situation CRA has extended the tax deadline to June 1, 2020. They have also extended the payment deadline to September 1, 2020. This means that any amount owing does not have to be paid until that date and there will be no interest charged.
Self Employed deadline is June 15, 2020
1070 Stone Church Rd E. Unit 33
(Next to the Bombay Grill)
This is an archive of previous articles written for tax advice just hit the button to the right.
Basic Returns $60 +HST
Couples Returns $110 +HST
*Extra charges will apply for returns with excessive data entry and complex returns (ex. rental income, self employed and employment expenses etc.)
We are family owned and operated. We strive for a family atmosphere in our office so appointments are preferred.
For our returning clients we offer a drop off service. We complete these within a few days and give you a call when they are ready for pick up.
WE ARE OPEN
We are continuing to offer our drop off service to all clients, until further notice.
As we approach the June 1st "soft" deadline the government has confirmed there will be no interest or penalties charged until September 1st and the usual payments of Child Benefits and HST will not be stopped in July. As long as your returns are filed by late September you will continue to receive these benefits based on your 2018 return.They have stated however if you do not file your 2019 return by October those benefits will be in jeopardy.
NEW Office Hours
(as of June 1, 2020)
*Please note the office will be closed the weeks of June 22 and June 29