Companies who are holding general meetings on or before 30 September 2020 should continue to conduct their meetings in accordance with the checklist by the ACRA, MAS and SGX RegCo available here. Penalties (including late-filing penalties) and interest will not be applied if returns are filed and payments are made by September 30, 2020. 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). Applies to charities with Form T3010 due between March 18, 2020 and December 31, 2020, The 15th of each month following an amount paid or credited by residents of Canada to non-resident persons. 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. If you already filed a 2019 paper return that has not been processed yet, you can file it again online using NETFILE certified tax software. Unchanged. The transitional arrangement will not apply to meetings that are further adjourned after the Control Period. 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. 1. This checklist incorporates the alternative arrangements prescribed in the Order as well as other alternative practices that issuers and non-listed companies should adopt given the inability of members to attend meetings in person. 4. Convenient electronic filing options, including IRS Free File, are still available. On 13 April 2020, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (Order) was issued. ACRA will grant a 60-day extension of time for all listed and non-listed companies whose AGMs are due during the period 16 April 2020 to 31 July 2020. The CRA will also waive arrears interest on existing tax debts related to individual, corporation, and trust income tax returns from April 1, 2020, to September 30, 2020, and from April 1, 2020, to June 30, 2020, for Goods and Services Tax/Harmonized Sales Tax (GST/HST) returns. It is only the return filing deadlines that have been extended. New extended tax return filing deadlines have recently been announced by the CRA, Revenu Quebec and Alberta Tax and Revenue Administration (TRA). The media release does not specifically address other matters such as deadlines for filing objections and appeals. The later of September 30, 2020 or six months after their day of death. There is no change to the current penalty framework for other ad hoc filings. ACRA will also not impose any penalties on listed and non-listed companies whose AGMs are due during the period 1 April to 15 April 2020 if they hold the AGM within 60 days of the due date. Although Oct. 15 is the last day for most people to file, some may have more time. In some cases, they have extended the due dates for current and prior tax payments and form filings. The extensions to the filing due date for income tax returns detailed below also apply to forms T106 and T1135, and any elections, forms, and schedules that must be filed with the return or on the same day as the return. The filing deadline for all 2019 share scheme returns is being extended from 31 March 2020 to 30 June 2020. 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. The CRA will also waive arrears interest on existing tax debts related to individual, corporation, and trust income tax returns from April 1, 2020, to September 30, 2020, and from April 1, 2020, to June 30, 2020, for GST/HST returns. In light of the COVID-19 situation, ACRA will grant a 60-day extension of time for all listed and non-listed companies whose AGMs are due during the period 16 April 2020 to 31 July 2020. There is no need … Note that the CRA does not administer Quebec tax, nor Alberta corporate tax. This changes filing deadlines to: twelve months from the end of the accounting reference period for a private company; and; nine months from the end of the accounting reference period for a public company. There is no need for these companies to apply for the extension of time with ACRA. However, we are preserving the June 1 filing deadline for T1 individuals, and the June 15 filing deadline for T1 self-employed individuals (sole-proprietors), in order to encourage filing returns in time to accurately calculate benefits, which rely on 2019 tax returns for entitlement calculation. A transitional arrangement is also provided for any meeting convened, held, conducted or deferred during a period of 30 days after the end of the Control Period, where the notice of the meeting was given during the Control Period. 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. 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. The CRA will also waive arrears interest on existing tax debts related to these parts of the Income Tax Act from April 1, 2020, to September 30, 2020. Latest Updates on Coronavirus Tax Relief. Further announcements will be made when the extension comes into effect. Mortgage charges This extension also applies to forms T106 and T1135, and any elections, forms and schedules that must be filed with the return. Download the press release (PDF, 100KB) for more details. 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. The annual filing due dates of between 1 May and 31 August for all listed and non-listed companies will also be extended for 60 days. Penalties and interest will not be charged if payments are made and returns are filed by the extended deadline of September 30, 2020. The Canada Revenue Agency is extending some of the filing deadlines for corporations and trusts in a move to help businesses and tax preparers dealing with the COVID-19 pandemic. ACRA will process and allow these applications for extension of time (EOT) through BizFile + for these companies with … You will not be charged late-filing penalties or interest if your 2019 individual (T1) income tax returns are filed and payments are made prior to September 1, 2020. (Don’t include any personal information. ACRA, the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have updated the checklist to guide issuers and non-listed entities on the conduct of general meetings arising from the latest updates from the Multi-Ministry Taskforce to ease safe management measures to facilitate business operations. 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