Description: During this highly unusual situation with Canada dealing with COVID-19, the Canada Revenue Agency (CRA) is giving some valuable extension room to Canadians. For instance, the normal April 30 deadline for most Canadians has been extended to June 1. CRA has set up a webpage to help Canadians keep up to date with these changes. https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update.html

Date:  March 27, 2020

Source:  cpacanada.ca

Link: https://www.cpacanada.ca/en/members-area/profession-news/2020/march/cra-covid19-updates?sc_camp=31BE415BD65E488F9A9D4C5B6C17D08C

Discussion points:

1) Will you take advantage of the extension in the filing deadline?

2) Have you ever been to the CRA website before searching for information? Was it easy to navigate to the information you needed?

3) On page 419 of Wiley’s Understanding Financial Accounting you will find an inset box discussing the issue of late remittance of amounts that are supposed to be forwarded to the CRA. Check out the special CRA webpage referred to above to see if there are any special extensions for remitting payroll deductions during this COVID-19 crisis.