Did you know governments have adopted tax measures allowing, for instance, the extension of the delay to remit the GST and QST?
The following deadlines have been postponed to June 30, 2020:
- Monthly filing: the remittance of amounts collected for the February, March and April 2020 reporting periods;
- Quarterly filing: the remittance of amounts collected for the January 1, 2020 to March 31, 2020 reporting period;
- Annual filings, which are normally due in March, April or May 2020.
Beware! If you are a director, be careful. This deferral does not relieve you of your liability as a director. In addition, if your company is experiencing financial difficulties and you plan on using the liquidity intended for GST and QST remittances to continue your activities, we invite you to contact your legal advisor to accompany you in this process to limit the potential consequences.