CRA Extends Filing Deadlines for Corporations and Trusts

To help cushion the economic effects of the COVID-19 pandemic, the Canada Revenue Agency (CRA) has issued a News Release, “The CRA has extended filing deadlines for corporations and trusts.” This release extends the deadline for businesses and trusts to file their T2 corporation income tax returns and T3 trust income tax returns becoming due in June, July, and August 2020 to September 1, 2020. The CRA had previously communicated that income tax returns due after March 18, 2020 (March 30, 2020 for trusts) and before May 31, 2020 were to be filed by June 1, 2020 and income tax (corporate and trust) remittances related to these return filings are due on September 1, 2020.