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Recent SR&ED Update on COVID-19
By admin
Published On April 9, 2020
As announced by the Government of Canada on Wednesday April 8th, there has been some changes made to filing and payment dates as a result of the coronavirus.
Please see below some of the changes made:
| Corporations – Due Dates | |
| Filing date for current tax year | June 1st, 2020 Extended Applies to corporations that would otherwise have a filing due date after March 18th and before June 1st, 2020 |
| Payment date for current tax year | September 1st, 2020 Extended Applies to balances and instalments under Part 1 of the Income Tax Act due on or after March 18 and before September 1, 2020. |
| Trusts – Due Dates | |
| Filing date for current tax year (including the associated T3 information return) | May 1st, 2020 Extended Applies to trusts with a tax year end date of December 31, 2019 June 1st, 2020 Extended Applies to trusts that would otherwise have a filing due date in April or May. |
| Payment date for current tax year | September 1st, 2020 Extended Applies to income tax balances and instalments due on or after March 18 and before September 1, 2020 |
Source: Government of Canada
Please note that the Government of Canada’s changes only affects your current tax year. Claims with an 18-month deadline must be filed by their original deadline.
If you need more clarification or have questions/concerns and need some SR&ED tax advice please call us at 1-416-499-2861 or email info@braithwaite.ca
