For small business owners, CRA’s new tax deadline isn’t a one-size-fits-all solution

This translation has been automatically generated and has not been verified for accuracy.In-home personal trainer Dave Szymkowicz has seen his business grind to a “complete halt” in the last few weeks.

Along with the rest of the country, Szymkowicz now has until June 1, 2020 to file his taxes for the 2019 fiscal year, and until Sept. 1, 2020, to pay amounts owed to the government. It’s a small change, but one that provides major relief to many sole proprietors who’ve seen their income plummet due to the pandemic’s economic fallout.

But the tax deadline extension is not equally beneficial for all Canadians. Those who are expecting refunds should file as soon as they can to “get that money in their pockets,” amid turbulent economic conditions, Rogan says. She also warns that many federal aid programs – including GST credits and the Canada Child Benefit – require applicants to file their taxes annually, so those who are hoping to qualify for supplemental government aid should do their 2019 taxes as soon as possible.

GlobeSmallBiz You realize there are millions accessing this site for Corona relief funding and unemployment, the tax agencies are closed, many people cannot file electronically, glad for the extension

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