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Turbo Tax – Save 20%

March 03, 2020


 
V.P. Credit Union would like to advise its membership that a 20% discount is available to members wishing to use the Turbotax platform for filing your 2019 personal income tax return. Please see the Turbotax website link below for more information.
 
https://turbotax.intuit.ca/partners/index.jsp?p=c1&cid=fip_fy20_tto_e_c1&priorityCode=9684-00000
 

For individuals and self-employed individuals:

    • The filing deadline for individuals has been postponed to June 1, 2020; the deadline for self-employed individuals is not noted as changed, it is currently June 15, 2020.
    • The CRA is allowing all tax-payers to defer their payments of any income tax amounts, that become owing on or after March 18, 2020, and before September 2020, to September 1, 2020.
    • You are encouraged to file before this new deadline if you expect to receive a refund, or expect to receive benefits under the GST/HST credit or the Canada Child Benefit, so it does not delay filing of the return and determining your 2020-21 benefit.

 

  • For trusts:
    • With taxation year ending December 31, 2019, the filing is extended to May 1, 2020

 

  • For businesses:
    •  The CRA is allowing all businesses to defer their payments of any income tax amounts, that become owing on or after March 18, 2020, and before September 2020, to September 1, 2020.  This relief applies to tax balances due, as well as instalments, under Part I of the Income Tax Act; no penalties or interest will accumulate on these amounts during this period.
    • There will be no initiation of post assessment GST/HST or Income Tax audits for SME businesses, for the next four weeks.

 
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/important-dates-individuals/filing-dates-tax-return.html
 
Lastly, we also want to inform our members that if you are in need of a loan to pay off any outstanding income taxes we offer a preferred rate of Prime + 1%. Please visit our Income Tax Loans webpage by clicking HERE.
 
If you have any other loan related inquiries, please feel free to contact us at 604 683 2434 or by email at [email protected].
 

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