The later of June 1, 2020 or six months after their day of death. There is no change to the current penalty framework for other ad hoc filings. However, recognizing the difficult circumstances faced by Canadians, the CRA will not charge late-filing penalties where a 2019 individual return or a 2019 or 2020 corporation, or trust return is filed late as long as it is filed by September 30, 2020. Latest Updates on Coronavirus Tax Relief. Maximum 300 characters, Self-employed and their spouse or common law partner – Deadlines, Information returns, elections, designations and information requests – Deadlines, Changes to taxes and benefits: CRA and COVID-19, Penalties and interest relief for extended deadlines, Processing delays for individual income tax paper returns - file online instead, The CRA will also waive arrears interest on existing tax debts. There is no need for these companies to apply for the extension of time. By extending the deadlines for federal returns and instalments, the CRA is also extending the deadlines for provincial/territorial individual, trust, and corporate returns and instalments. For companies whose filing deadline falls between 27 June 2020 and 5 April 2021 (inclusive) and who have not shortened their accounting period, the Regulations extend their filing deadline by 3 months. Applies to non-resident corporations electing under section 216(4) that would otherwise have a filing deadline on May 31, or in June, July, or August 2020. Companies are reminded to hold their AGM and file their AR by the extended due dates, to avoid incurring penalties. Penalties (including late-filing penalties) and interest will not be applied if returns are filed and payments are made by the later of September 30, 2020 or six months after their day of death. Unchanged. Filing Annual Returns Revised Penalty Framework for Annual Lodgments to take effect from 30 Apr 2021 With effect from 30 Apr 2021, ACRA will implement a revised 2-tier penalty framework for filing of annual return and annual declaration for all Singapore incorporated Companies, Variable Capital Companies and Limited Liability Partnerships. New annual return deadlines In light of the Order, ACRA, the Monetary Authority of Singapore and Singapore Exchange Regulation have prepared a checklist to guide the conduct of general meetings during the Control Period. The later between June 15, 2020 or six months after their day of death. ACRA will also not impose any penalties on listed and non-listed companies whose This also applies to the June 15 and September 15, 2020, instalment payments for those who have to pay by instalments. File your 2019 taxes online as soon as possible and register for direct deposit to get refunds faster and avoid interruptions to benefit and credit payments. COVID-19 Greater flexibility for statutory tax deadlines COVID-19 31 March 2020 issues As part of the response to COVID-19, we still need you to continue to file your returns as the information is used to make correct payments to people, and to help the Government … Applies to partnerships that would normally have a March 31 filing deadline. The transitional arrangement will not apply to meetings that are further adjourned after the Control Period. In Apr 2020, ACRA had granted a 60-day extension of time (EOT) for all listed and non-listed companies whose AGMs are due during the period 16 Apr to 31 Jul 2020, and AR filings due between 1 May and 31 Aug 2020. September 30, 2020 Further extended as of July 27. Under these extensions, certain trusts and corporations with tax returns otherwise due in June, July or August 2020, may now file those returns by September 1, 2020. 3. TUCSON, Ariz. (KOLD News 13) - Good news for businesses in need of assistance because of the COVID-19 pandemic, the U.S. Small Business Administration is extending the Economic Injury Disaster Loan application deadline has been extended. The Internal Revenue Service and the Treasury Department have started delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year. When granted, businesses will be able to file and pay no later than April 20, 2020 with a waiver of any penalties and interest. 2. Details of the Extension of Time (EOT) for Holding AGM and Filing AR. This applies in respect of income tax returns and the associated elections, designations and information returns, such as the Form T1135, that are required to be filed with or on the same day as the return. Download the press release (PDF, 100KB) for more details. The later of September 30, 2020 or six months after their day of death. With effect from 30 Apr 2021, ACRA will implement a revised 2-tier penalty framework for filing of annual return and annual declaration for all Singapore incorporated Companies, Variable Capital Companies and Limited Liability Partnerships. The last tax year started on 6 April 2019 and ended on 5 April 2020. Instead of the normal April 30 deadline for the 2020 tax season, Canadians now have until June 1, 2020 to submit their income tax return to the CRA. If you have already submitted a request to change your return by mail that has not been processed yet, you may be able to submit it again electronically. The deadline for furnishing of income tax returns for the Assessment Year 2020-21 … Learn how your state may change its tax payment and filing deadlines due to COVID-19. Penalties and interest will not be applied if information returns, elections, designations, and information requests are filed and payments are made by September 1, 2020. Applies to balances due on or after March 18, 2020, and before September 30, 2020. There is no need for these companies to apply for the extension of time with ACRA. Following Singapore’s move into phase two of its reopening on 19 June 2020, ACRA, the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have updated the joint guidance and checklist issued on 13 April 2020, to guide the conduct of general meetings during safe management period. Further announcements will be made when the extension comes into effect. September 30, 2020 Futher extended as of July 27. The filing deadline for all 2019 share scheme returns is being extended from 31 March 2020 to 30 June 2020. Issuers must also continue to make available the option for shareholders to participate in their general meetings via electronic means. The AR filing due dates for the period 1 May 2020 to 31 August 2020 for all listed and non-listed companies will also be extended for 60 days. On 23 September 2020, the Ministry of Health issued an advisory to provide that work-related events within the workplace premises that are business-oriented (which includes general meetings) will be allowed to resume, for up to 50 persons at a permitted premises (and not a function centre hired from another) with strict adherence to safe management measures. ACRA Extension of Deadline for Holding Annual General Meetings and Filing Annual Returns May 19, 2020 In light of the COVID-19 situation, some companies may have difficulties holding their Annual General Meetings (AGMs) and filing their Annual Returns (ARs). The refinements to the Order are as follows: The Ministry of Law intends to extend the duration of the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (the “Order”), to 30 June 2021. Penalties and interest will not be applied if returns are filed and payments are made by September 30, 2020. The central government and the finance ministry did their best to help out by extending the various Income Tax compliance deadlines, including extension in the date for filing ITR (income tax return) for FY19 as well as linking one’s PAN with Aadhaar. September 30, 2020 Further extended as of July 27. This does not include returns that the software says must be paper-filed or returns that are excluded from electronic filing. The CRA is further extending the payment due date for 2019 individual tax returns and 2019 or 2020 corporation, or trust returns, as well as for instalment payments, from September 1, 2020, to September 30, 2020. This also applies to the June 15 and September 15, 2020, instalment payments for those who have to pay by instalments. This will provide companies, variable capital companies, unit holders of registered business trusts, unit holders of unit trusts and holders of debentures, with greater legal certainty to plan their meetings, and the option to hold virtual meetings to minimise physical interactions, amid the continuing COVID-19 situation. Submit your requests for changes electronically, using Change My Return in My Account or ReFILE. Issuers and non-listed companies may continue to conduct their general meetings held on or before 30 June 2021 via electronic means, and are encouraged to do so. 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