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Email this3:27 pm
May 15, 2007
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The federal government is set to announce tomorrow that the personal income tax filing deadline for the 2019 tax year will be extended by 1 month: https://nationalpost.com/news/politics/government-extends-tax-deadline-to-june-1-amidst-covid-19-outbreak
4:21 pm
December 12, 2009
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Peter said
The federal government is set to announce tomorrow that the personal income tax filing deadline for the 2019 tax year will be extended by 1 month: https://nationalpost.com/news/politics/government-extends-tax-deadline-to-june-1-amidst-covid-19-outbreak
This is personally not a big deal, and not worth the announcement. Don't waste our time with such trivialities, Trudnope. 🙁
If the government doesn't provide $1,000 per month, ideally tax-free, to every aged 18-65 Canadian until the conclusion of the government-mandated shutdown of the Canadian economy, it will be a massive failure on the part of the government. Alternatively, in lieu of that, the federal government could also provide Canadians with a legal "rent dodge" and, in turn, mandate that lenders holding mortgages on rental properties push back the borrower's mortgage payments until the conclusion of the government-initiated economic shutdown.
Cheers,
Doug
5:06 pm
April 28, 2017
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To juxtapose, all but the super affluent down South will be unconditionally receiving cheques (ca.$1K ) within next few weeks on top of other help.
5:21 pm
September 11, 2013
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Even better, if we owe we don't have to pay until July 31, cool!
No, all Canadians should not have to pay other Canadians $1000 a month tax-free (Doug, the government has no money, it comes from us). Plus it's false to say there's a government mandated shutdown of the economy, in fact the gov't is emphasizing it is vital that the supply chain needs to keep working for our necessary goods and supplies, and so far the trucks are still pulling in to my grocery store bringing me my food, etc. And no "rent dodge", etc, because lots of Canadians are going to lose money for various reasons. I would agree, though, to huge immediate benefits to our frontline health care workers and other workers (e.g. truckers, grocery store, pharmacy, food production, etc workers) who are keeping the supply chain alive and many of whom are risking their and their family's health right now so the rest of us can hunker down comfortably. I'd go for that because if they decide to stay home too then our situation changes very quickly.
6:01 pm
February 20, 2018
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Doug said
Alternatively, in lieu of that, the federal government could also provide Canadians with a legal "rent dodge" and, in turn, mandate that lenders holding mortgages on rental properties push back the borrower's mortgage payments until the conclusion of the government-initiated economic shutdown.Cheers,
Doug
What r u sayin doug gov should bailout real estate speculators.
6:03 pm
April 28, 2017
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Bill said
[...]
No, all Canadians should not have to pay other Canadians $1000 a month tax-free (Doug, the government has no money, it comes from us). [...]
When the government spends billions in foreign relief aid, it spends all Canadians’ money.
This time around urgency for relief happens to be domestic.
8:15 pm
June 3, 2015
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Doug said
If the government doesn't provide $1,000 per month, ideally tax-free, to every aged 18-65 Canadian until the conclusion of the government-mandated shutdown of the Canadian economy, it will be a massive failure on the part of the government.
Cheers,
Doug
Wow....that's so sad, I hope those who need it get help, but everyone else, cmom man get a grip.
Tangerine....Canada's best bank. LBC.............Canada's 2nd best bank.
Hubert.....worst bank in Canada.
10:19 am
May 24, 2016
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Bill said: .....I would agree, though, to huge immediate benefits to our frontline health care workers and other workers (e.g. truckers, grocery store, pharmacy, food production, etc workers) who are keeping the supply chain alive and many of whom are risking their and their family's health right now so the rest of us can hunker down comfortably. I'd go for that because if they decide to stay home too then our situation changes very quickly.
I agree with you Bill, on this. We can all say “Thank you” to these stalwart people when we shop, etc., just to let them know we appreciate them. My grocery store clerk was really pleased when I thanked her this morning.
10:49 am
December 12, 2009
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Bill said
Even better, if we owe we don't have to pay until July 31, cool!No, all Canadians should not have to pay other Canadians $1000 a month tax-free (Doug, the government has no money, it comes from us). Plus it's false to say there's a government mandated shutdown of the economy, in fact the gov't is emphasizing it is vital that the supply chain needs to keep working for our necessary goods and supplies, and so far the trucks are still pulling in to my grocery store bringing me my food, etc. And no "rent dodge", etc, because lots of Canadians are going to lose money for various reasons. I would agree, though, to huge immediate benefits to our frontline health care workers and other workers (e.g. truckers, grocery store, pharmacy, food production, etc workers) who are keeping the supply chain alive and many of whom are risking their and their family's health right now so the rest of us can hunker down comfortably. I'd go for that because if they decide to stay home too then our situation changes very quickly.
Inflation is, I expect, to be at least -6 to -10.00% for the entire year. Everyone's costs will go down significantly as a result of the deep recession. Thus, the Bank of Canada, not the Government of Canada, has significant expansion room to increase the money supply without devaluing the dollar in a material way. It would be modestly inflationary, in a bad inflation sort of way, yes, but ultimately, this can be done without even increasing the government's debt load.
Instead we get more bureaucracy and half measures that will require government bureaucrats to process.
Cheers,
Doug
1:36 pm
January 12, 2019
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Peter said
The federal government is set to announce tomorrow that the personal income tax filing deadline for the 2019 tax year will be extended by 1 month: https://nationalpost.com/news/politics/government-extends-tax-deadline-to-june-1-amidst-covid-19-outbreak
It's now Official ➡▶ https://www.ctvnews.ca/health/coronavirus/tax-deadline-extended-due-to-covid-19-crisis-1.4858098
" Live Long, Healthy ... And Prosper! "
2:23 pm
April 28, 2017
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Doug said
Inflation is, I expect, to be at least -6 to -10.00% for the entire year. Everyone's costs will go down significantly as a result of the deep recession.
...if we were to digress from historical charts and stats analysis and compare how the cost of groceries that went up (3x already) since institution of carbon tax, it will be interesting to see if indeed the price of groceries goes down... as you suggest. While bottom scraping cost of crude oil is nauseatingly but slowly resulting in lower gas prices at the pump, it is little consolation/GAIN when travel is essentially out of the question WITHOUT the cost of food dropping substantially (should be at least to pre-carbon tax levels).
Doug said
Thus, the Bank of Canada, not the Government of Canada, has significant expansion room to increase the money supply without devaluing the dollar in a material way. It would be modestly inflationary, in a bad inflation sort of way, yes, but ultimately, this can be done without even increasing the government's debt load.
I like your take on this...please verbalize possible solutions...who knows, hoping maybe somebody in power will be in line to use your suggestions and as they usually do, claim it as their own.LOL
Doug said Instead we get more bureaucracy and half measures that will require government bureaucrats to process.
You are bang on, go big or go home! no more half measures.
Bureaucratic approach of "you must fill an application, don't miss a box(or else wait for another 6 months even though that info was entirely irrelevant) +3 photos and you will hear from us depending on workload" has to be eradicated with passion.
3:25 pm
April 6, 2013
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Official notification from federal government: Department of Finance: Flexibility for Taxpayers
…
- For individuals (other than trusts), the return filing due date will be deferred until June 1, 2020. However, the Agency encourages individuals who expect to receive benefits under the GSTC or the Canada Child Benefit not to delay the filing of their return to ensure their entitlements for the 2020-21 benefit year are properly determined.
…
The Canada Revenue Agency will allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today 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.
…
4:04 pm
April 2, 2018
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Norman1 said
Official notification from federal government: Department of Finance: Flexibility for Taxpayers…
- For individuals (other than trusts), the return filing due date will be deferred until June 1, 2020. However, the Agency encourages individuals who expect to receive benefits under the GSTC or the Canada Child Benefit not to delay the filing of their return to ensure their entitlements for the 2020-21 benefit year are properly determined.
…
The Canada Revenue Agency will allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today 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.
…
Could somebody translate this for me?
I understand I can file my 2019 return up to and including 2020.06.01 but am not understanding second paragraph.
4:10 pm
April 2, 2018
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Doug said
Inflation is, I expect, to be at least -6 to -10.00% for the entire year. Everyone's costs will go down significantly as a result of the deep recession.
Where is that happening? Elbonia?
Milk prices have increased for $0.50 for 4 liters, organic, 3.85% MMF; tofu went up $0.50 for 700g.
Just because gas prices went down it does not mean we have negative inflation. Nobody is driving anymore anyway... Everybody is piling up supply and sharpening knives.
4:31 pm
April 6, 2013
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pooreva said
Could somebody translate this for me?
I understand I can file my 2019 return up to and including 2020.06.01 but am not understanding second paragraph.
Any income tax payments that become owing March 18, 2020 (today) to August 31, 2020 (before September 2020) can be deferred to August 31 with no interest or penalty. That includes the any payment of personal income taxes normally owing on April 30.
Interest and penalties continue to accumulate on payments that became owing before March 18, 2020, like missed instalment payments due last year.
8:20 am
April 2, 2018
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Spent 1:12 hours waiting for CRA rep to clarify all these dates regarding paying to CRA:
- If you have been reassessed for 2018 and owe tax you can defer payment until 2020.09.01. My reassessment date is 2020.03.19 and it was confirmed I can postpone payment.
- Deadline for filing taxes for 2019 has been extended to 2020.05.01. That was clear from day one. When and if you file your tax return NOW (sooner the better), refund should be processed within 2 weeks. If you owe tax for 2019 you can defer payment until 2020.09.01.
- If you are paying taxes for 2020 by installment, it was suggested to me to PAY on time as they currently have no guidance for 2020. This might change.
If anybody has different info or understanding, please post.
9:26 am
April 6, 2013
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Thanks, pooreva.
The 2020 tax installments are due on these dates:
- March 15
- June 15
- September 15
- December 15
Only the June 15 installment is in the window for deferral to after August 31. So, the March 15 installment should be paid by March 15.
10:39 am
October 21, 2013
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I was under the impression that the fiing deadline for 2019 had been extended, but not sure of date.
11:36 am
November 7, 2014
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Loonie said
I was under the impression that the fiing deadline for 2019 had been extended, but not sure of date.
From CPA website:
Personal returns — The deadline for filing T1 returns that were due on April 30, 2020 has been extended to June 1, 2020. Individuals expecting a refund or benefits should file sooner if possible, as the Canada Revenue Agency (CRA) will process refunds.
Trust returns — For trusts having a taxation year ending on December 31, 2019, the return filing due date will be deferred until May 1, 2020.
Income tax payments for all taxpayers — The CRA will allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to income tax balances due, as well as installments and no interest or penalties will accumulate on these amounts during this period
5:12 am
March 30, 2017
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Anyone curious like me to try to understand how late filing / payment equates to a $55B aid as portrait by the government ? I checked and personal income tax was in the neighborhood of $150B area so do they just say expect 55B to be paid last minute so extending saves the public 55B ? Also that is deferred and how is that a "real help" to the economy..
Not trashing the government but thinking isnt that a bit glorified when they say headline stimlus is $80B+ ??
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