Canadian working holidaymakers now have an additional month to file their tax return
Canada has become the latest country to extend its tax deadline due to the COVID-19 pandemic.
As the pandemic continues to sweep across the globe, presenting obstacles in the day-to-day life of nearly everyone on the planet, the CRA have taken steps to ease the burden of tax filing for residents and nonresidents of Canada.
The Canadian tax authorities (the CRA) have eased the filing burden for residents and non-residents alike by pushing the tax deadline back from 30 April to 1 June 2020.
This gives taxpayers more than a month of additional time to organise and file their tax documents.
What is changing?
While the tax filing deadline has been extended to 1 June for all individuals and corporations, the CRA is encouraging taxpayers to file their documents as soon as possible.
It is particularly important to file if you expect to receive benefits under the GSTC or the Canada Child Benefit so that you can ensure your entitlements for the 2020-21 benefit year are properly determined.
The payment deadline of any income tax amounts which are owed on or after today and before September 2020 is also deferred until 1 September 2020.
This means that any business or individual that owes money to the CRA now has until 1 September to pay.
For trusts, the taxation for the 2019 tax year has also been extended to May 1, 2020.
As a temporary measure, in order to reduce the necessity for taxpayers and tax preparers to meet in person, the CRA will now also recognize electronic signatures as having met the signature requirements of the Income Tax Act.
This has been done to ensure the safety of both the taxpayers and CRA employees, who have been instructed to work at home if at all possible.
The government of Quebec have also announced that similar measures will apply for the provincial tax authority, ‘Revenu Québec’.
For individuals and business who fall under this provincial authority, the deadline for filing income tax returns for the 2019 taxation year is postponed to June 1, 2020.
Why you should file your tax return now!
While the deadline has been extended, by filing your Canadian working holiday tax return now, you can ensure you receive your tax refund without delay!
If you file during the ‘deadline rush’, you will likely have to wait longer for your refund as the CRA will be dealing with large quantities of tax returns and processing times will be slower.
Essentially, the sooner you file, the sooner you will receive your refund!
You can choose to file your tax return directly with the CRA yourself.
However, the easiest and fastest way to get your working holiday tax back is to apply with Taxback.com!
By preparing your tax return with Taxback.com you are guaranteed to receive your maximum Canadian tax refund.
In fact, our average Canadian tax refund is $998 so it is definitely worth claiming your entitlements!
You will enjoy a fast and stress-free service. We will manage all of your tax return paperwork so you don't have to, ensuring you are fully compliant with Canadian tax laws!
We’ll even transfer your refund to your bank account anywhere in the world – this will come in handy if you have left Canada!
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Plus, if you have any questions about Canadian tax, our Live Chat team are available to support you anytime 24/7.