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). On 14 April 2020, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) (Amendment) Order 2020 was issued. Applies to partnerships that would normally have a filing deadline after March 31 and before May 31, 2020. The Control Period will be the period commencing retrospectively from 27 March 2020 to the last day the Regulations or the Infectious Diseases (Measures to Prevent Spread of COVID-19) Regulations 2020 is in force. Extended Tax Filing Deadlines. Interest will not be applied if payments are made by September 30, 2020. ACRA will process and allow these applications for extension of time (EOT) through BizFile + for these companies with … The Checklist was first issued amid the evolving COVID-19 situation on 13 April 2020 and updated on 27 April 2020 and 22 June 2020. This also applies to the Part XIII remittance requirement associated with income paid or payable to non-resident beneficiaries. Revenue has agreed to further extend the filing deadline for the 2019 ESS1 - Return of Information by the Trustee of an Approved Profit Sharing Scheme to 31 October 2020. Please click on the following links for more information: Amendments to the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts and Debenture Holders) Order 2020 came into force on 29 September 2020. However, recognizing the difficult circumstances faced by Canadians, the CRA will not charge late-filing penalties where a 2019 individual return or a 2019 or 2020 corporation, or trust return is filed late as long as it is filed by September 30, 2020. 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. If we’re unable to assess your 2019 return by early September 2020, your estimated benefits and/or credits will stop in October 2020 and you’ll have to repay the estimated amounts that were issued to you starting in July 2020. 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. Applies to partnerships that would normally have a March 31 filing deadline. Applies to corporations that would otherwise have a filing deadline on May 31, or in June, July, or August 2020. Unless otherwise noted, applies to other information returns, elections, designations and information requests that would have been due after March 18 and before May 31, 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 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. Applies to balances and instalments due on or after March 18 and before September 30, 2020. TUCSON, Ariz. (KOLD News 13) - Good news for businesses in need of assistance because of the COVID-19 pandemic, the U.S. Small Business Administration is extending the Economic Injury Disaster Loan application deadline has been extended. (Don’t include any personal information. This also applies to the June 15 and September 15, 2020, instalment payments for those who have to pay by instalments. In some cases, they have extended the due dates for current and prior tax payments and form filings. 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. See Payroll page for filing deadlines. COVID-19: Payment deadline extension. It is only the return filing deadlines that have been extended. For companies whose filing deadline falls between 27 June 2020 and 5 April 2021 (inclusive) and who have not shortened their accounting period, the Regulations extend their filing deadline by 3 months. Maximum 300 characters, Self-employed and their spouse or common law partner – Deadlines, Information returns, elections, designations and information requests – Deadlines, Changes to taxes and benefits: CRA and COVID-19, Penalties and interest relief for extended deadlines, Processing delays for individual income tax paper returns - file online instead, The CRA will also waive arrears interest on existing tax debts. The CRA is seeking T1 returns by June 15, 2020 for sole proprietors in order to ensure accurate federal and provincial benefits payments. For listed and non-listed companies whose AGMs are due during the period 1 to 15 April 2020 The deadline to pay off any outstanding balances interest-free will also be extended to August 31, 2020. This also applies to the June 15 and September 15, 2020, instalment payments for those who have to pay by instalments. ACRA will also not impose any penalties on listed and non-listed companies whose As we are in the early stages of our re-opening, activities where large numbers of people are likely to come into close contact for a prolonged period in enclosed spaces should be avoided. Penalties and interest will not be applied if information returns, elections, designations, and information requests are filed and payments are made by September 1, 2020. 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. 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. Penalties and interest will not be applied if returns are filed and payments are made by September 30, 2020. 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. There is no need for these companies to apply for the extension of time with ACRA. Filing Annual Returns Revised Penalty Framework for Annual Lodgments to take effect from 30 Apr 2021 With effect from 30 Apr 2021, ACRA will implement a revised 2-tier penalty framework for filing of annual return and annual declaration for all Singapore incorporated Companies, Variable Capital Companies and Limited Liability Partnerships. Applies to corporations that would otherwise have a filing deadline after March 18 and before May 31, 2020. Here are the details on the extension of various tax compliance deadlines. The later of June 1, 2020 or six months after their day of death. If you have already submitted a request to change your return by mail that has not been processed yet, you may be able to submit it again electronically. Penalties (including late-filing penalties) and interest will not be applied if returns are filed and payments are made by the later of September 30, 2020 or six months after their day of death. The CRA is further extending the payment due date for 2019 individual tax returns and 2019 or 2020 corporation, or trust returns, as well as for instalment payments, from September 1, 2020, to September 30, 2020. 1. 2. Their AR filing due dates will also be extended for 60 days. 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 these parts of the Income Tax Act from April 1, 2020, to September 30, 2020. Companies that had previously been granted extension of time to hold their AGMs within this period will also be given a further 60 days of extension from the last date of extension. The filing deadline for all 2019 share scheme returns is being extended from 31 March 2020 to 30 June 2020. Unchanged. Penalties and interest relief will be considered on a case-by-case basis for income tax balances that are not listed above. Applies to non-resident corporations electing under section 216(4) that would otherwise have a filing deadline after March 18 and before May 31, 2020. Note that the CRA does not administer Quebec tax, nor Alberta corporate tax. This applies in respect of income tax returns and the associated elections, designations and information returns, such as the Form T1135, that are required to be filed with or on the same day as the return. 3. 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. On 23 September 2020, the Ministry of Health issued an advisory to provide that work-related events within the workplace premises that are business-oriented (which includes general meetings) will be allowed to resume, for up to 50 persons at a permitted premises (and not a function centre hired from another) with strict adherence to safe management measures. In light of the COVID-19 outbreak, Corporations Canada is extending the annual return filing periods for federally incorporated businesses, not-for-profit organizations and cooperatives whose annual returns are normally due during this time. ... Returns due to the COVID-19 situation, IRAS would grant them a 1-month extension till 15 Jan 2021 to e-File the YA 2020 CIT Returns, provided that the companies had submitted the "Request for Filing Extension for YA 2020 Corporate Income Tax … The checklist is also applicable to VCCs and non-listed unit trusts, with the necessary modifications. Applies to partnerships that normally have a filing deadline on May 31, or in June, July, or August 2020. There is no change to the current penalty framework for other ad hoc filings. Penalties (including late-filing penalties) and interest will not be applied if returns are filed and payments are made by September 30, 2020. New annual return deadlines People who file their tax returns late will not be fined if they have been hit by the coronavirus under new rules that will benefit millions of workers. Penalties and interest will not be applied if returns are filed and payments are made by September 30, 2020. September 30, 2020 Further extended as of July 27. This does not include returns that the software says must be paper-filed or returns that are excluded from electronic filing. Some taxpayers may have received a Notice of Assessment that says the deadline for payment is April 30, 2020 or September 1, 2020, which is now incorrect. Coronavirus: Extension of deadline for the filing and publication of accounts 26 June 2020. There is no need for these companies to apply for the extension of time with ACRA. There is no need for these companies to apply for the extension of time with ACRA. The blanket relief provides a 60-day extension for periodic filings normally required to be made between June 2, 2020 and September 30, 2020 by registrants and, in Ontario, unregistered capital markets participants that rely upon certain registration exemptions. September 30, 2020 Further extended as of July 27. The media release does not specifically address other matters such as deadlines for filing objections and appeals. Penalties and interest will not be charged if payments are made and returns are filed by the extended deadline of September 30, 2020. While this measure for existing tax debts does not cancel penalties and interest already assessed on a taxpayer’s account prior to this period, it will ensure that a taxpayer’s existing tax debt will not grow through interest charges during this difficult time. 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. This extension also applies to forms T106 and T1135, and any elections, forms and schedules that must be filed with the return. When granted, businesses will be able to file and pay no later than April 20, 2020 with a waiver of any penalties and interest. In Apr 2020, ACRA had granted a 60-day extension of time (EOT) for all listed and non-listed companies whose AGMs are due during the period 16 Apr to 31 Jul 2020, and AR filings due between 1 May and 31 Aug 2020. Penalties (including late-filing penalties) and interest will not be applied if returns are filed and payments are made by September 30, 2020. October 15 is the filing deadline for those who requested an extension Taxpayers who requested an automatic filing extension should complete their 2019 tax returns and file on or before the Oct. 15 deadline. 3. Mortgage charges Penalties and interest will not be charged if payments are made by the extended deadlines of September 30, 2020. By extending the deadlines for federal returns and instalments, the CRA is also extending the deadlines for provincial/territorial individual, trust, and corporate returns and instalments. Should issuers and non-listed companies, after due consideration of public health and other risks, wish to provide for physical attendance at their general meetings, they must ensure that they implement all relevant measures to comply with the safe management measures imposed by the Singapore Government. This includes the late-filing penalty as long as the return is filed by September 30, 2020 (related to the 2019 tax return for individuals and the tax returns for trusts and corporations that would otherwise be due on or after March 18, 2020, and before September 30, 2020). The CRA encourages everyone to file their income tax returns as soon as possible, even though payment deadlines are being extended. Penalties (including late-filing penalties) and interest will not be applied if returns are filed and payments are made by the later of September 30, 2020 or six months after their day of death. September 30, 2020 Extended as of July 27. 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. Submit your requests for changes electronically, using Change My Return in My Account or ReFILE. 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