The deadline for individuals to file their 2019 income tax returns has been extended to June 1. (Pixabay stock photo)

Income tax deadline looming

2019 individual tax returns are due June 1, June 15 for self-employed individuals

The extended deadline to file 2019 income tax returns is on the horizon.

Due to the COVID-19 pandemic, the deadline to file was extended to June 1, from April 30. For self-employed individuals (sole-proprietors), the deadline is June 15.

However, the federal government will not be charging late-filing penalties or interest if 2019 individual (T1) income tax returns are filed and payments are made prior to Sept. 1.

According to the Canada Revenue Agency, these deadlines are to encourage filing returns in time to accurately calculate benefits, which rely on the 2019 returns for entitlement calculations. If returns are not assessed in time, benefits and/or credits for July to September 2020 payments will be based on information from 2018 returns.

ALSO READ: B.C. business, local governments get further tax relief


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