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Executive Summaries Mar 18, 2020

COVID-19: Revenu Québec Loosens its Tax Measures

In response to the COVID-19 pandemic, measures to ease the burden on individuals and corporations in Quebec were announced yesterday by the Minister of Finance Éric Girard.

During this tax season, these measures aim to facilitate the lives of citizens and businesses affected by this exceptional crisis. Here is a summary of the newly implemented measures.

Measures for Companies

  • Payment of instalments and taxes due between March 17, 2020 and July 31, 2020 is suspended. The date on which these payments will become due will be communicated subsequently.
  • A company whose tax due date is between March 17, 2020 and July 31, 2020 will not be required to pay such tax until an undetermined date which will be after July 31, 2020.

Measures for Individuals

  • The deadline for filing tax returns is extended from April 30, 2020 to June 1, 2020.
  • The deadline for paying any balance owing on 2019 tax returns is postponed to July 31, 2020.
  • Instalment payments due June 15, 2020 are suspended until an undetermined date, which will be after July 31, 2020.

Measures for Trusts

  • The deadline for filing and transmitting tax returns of certain trusts normally due March 30, 2020 is postponed to May 1, 2020.
  • The deadline for paying any balance owing on the 2019 tax return is extended to July 31, 2020.
  • Instalment payments for June 15, 2020 are suspended until a date to be determined, which will be after July 31, 2020.

For more details on these new measures, please read Information Bulletin 2020-3. Our Tax group is closely monitoring tax developments in response to the COVID-19 pandemic. Do not hesitate to contact them for more information.

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