Deferral of tax deadlines

RE: Deferral of tax deadlines  

In light of the unprecedented environment regarding the coronavirus (COVID-19), the CRA and Revenu Québec have deferred tax deadlines and remittance payments. Please see the chart below for details.

1 Other than specified investment flow-through trusts
2 Due date varies
3 Applies to residents of Quebec only
 
* Any amount that is due between now and August 31, 2020 (income taxes & June 15, 2020 instalment) will not incur any interest and penalties up to August 31, 2020. Interest and penalties will be calculated on any amount outstanding for the taxes and June 15, 2020 instalments as of September 1, 2020. If the payment is delayed beyond August 31, 2020 interest and penalties will start accumulating.
 
Source: Department of Finance
 
Although the deadlines have been deferred, we encourage you to work with your tax expert in a timely fashion so that they can complete your returns as soon as possible. 
We encourage you to use the following two options for sending us your tax information:
 
1. By email with a password protected PDF.
 
2. By secure portal. If you are not currently set up for this, we will need confirmation from you with the email address you would like to use. To set up this process, please email Paul Robinson at probinson@tewealth.com. You will receive an email confirmation from CCH Canada Portal (csupportcas@cch.ca) once this has been successfully activated. 
 
To align our procedures with the government’s social distancing mandate, we have reduced the number of employees in the offices to a very few critical individuals, and therefore ask for your assistance to help us best support you through this mandate successfully. 
 
One of the ways is with regards to cheque requests and deposits. Whenever possible, we request that you kindly move any cash electronically by way of EFT instead of mailing a cheque. 
 
If a cheque is required, we would like to have the cheque sent directly from the custodian to the recipient instead of coming back to the office.
 
We realize this change may cause some inconvenience if you are used to sending cheques and have been doing that for a long time. Please be assured that our account managers and customer support managers are ready to help set you up for EFTs.
Please don’t hesitate to reach out to your primary contact or myself with any questions that you have.
 
Sincerely,

Mark Arthur

Chief Executive Officer, T.E. Wealth

E: marthur@tewealth.com

D: 416-933-5754

 
 

T.E. Wealth is a trademark and business name under which iA Investment Counsel Inc. (iAIC) operates.

 
 
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These articles are for general informational purposes only. Please obtain professional advice before taking any action based on this information. No endorsement or approval of any third parties or their advice, information, products or services should be implied by any references to third parties contained in any article. Trademarks cited in these articles are the respective properties of their owners.

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