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KEEPING YOU SAFE FROM COVID-19

COVID-19

New Heights Accounting is still open for business during COVID-19 – Practicing Social Distancing For Your Safety.

For your safety, we are using a non-contact method of assisting you with your taxes during this time, via email and telephone. If paperwork is required you can still supply us with your information using a drop box available in front of our office, and we are working on using electronic signatures for information filings.

Due to the ever-changing nature of the Covid-19 strictures, the government and CRA are providing amended timelines for submission of taxes. While these are subject to change here is the last confirmed information provided. If you have any questions, please contact us via phone: 250-618-7800 or via email: info@newheightsaccounting.com

New Tax Filing Deadlines

Individuals

The deadline to file your income tax and benefit return will be deferred until June 1, 2020.

The deadline to pay any balance due for your individual income tax and benefit return for 2019 has been extended from April 30, 2020, to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.
Self-employed and their spouse or common law partner For self-employed individuals or those who have spouses or common-law partners that are self-employed, the deadline to pay any balance due for your individual income tax and benefit return has been extended from April 30, 2020, to September 1, 2020.
Businesses The deadline for businesses to pay any income tax amounts that become owing or due after March 18, 2020 and before September 1, 2020 has been extended to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.
Trusts

For trusts with a taxation year end of December 31, 2019, the filing due date of March 31, 2020, will be deferred to May 1, 2020.

Furthermore, all trusts that have an upcoming income tax balance due date or an income tax instalment payment due date before September 1, 2020, will have their payment due date effectively extended to September 1, 2020.

Penalty and interest implications for upcoming trust tax obligations not covered by the relief described above will be considered by the CRA on a case-by-case basis.
Charities The Charities Directorate is extending the filing deadline to December 31, 2020, for all charities with a Form T3010, Registered Charity Information Return due between March 18, 2020 and December 31, 2020.