If there's any good news to come out of this global pandemic it's that you have some extra time to get your taxes in this year.
Sharie Rideout owner of Ledgers Cochrane says for "Personal taxes the deadline is normally April 30 but Revenue Canada has moved that to June 1. If you owe any funds for taxes to Revenue Canada you have until September 1 to pay without penalty or interest."
As far as the business tax deadlines go, those are unchanged.
"You are still required to file within the deadlines that are associated with your business. However, Revenue Canada is recognizing that can be difficult during this whole COVID-19 process so they won't be imposing any penalties if someone is late filing."
A lot of Canadians have made the shift and are working from home right now.
Rideout says anyone who is working from home should keep track of all of their expenses.
"Any office supplies, if they had to purchase a computer to work from home, anything like that. Their utilities, property taxes etc. Then at the end of the year they should request from their employer a T2200 and what that does is allows them to claim those home office expenses during the period that they had to work from home."
Rideout says if you are getting any extra funds from the government right now you need to make sure to set some of that aside.
"The most important thing for people to note at this time is any subsidy that they do receive from the government both personal or through business is considered taxable income. So please ensure that you do put some taxes or money aside to make sure that those taxes get paid next year so you don't get hit with a big tax bill in 2021."
Rideout says she's noticed an increase in phone calls from people who have concerns or who need some assistance in navigating how they should apply for benefits from the government.
She says the Ledgers Canada website is constantly being updated during this pandemic and the Revenue Canada website is also a good resource for anyone looking for information.
Rideout says all of the changes this year will make it easy to miss things if you're doing your own taxes. She recommends people to bring their taxes to a professional more than ever this year.
For more information about the 2020 tax season go here.