In response to the economic impact of the COVID-19 pandemic, the Québec government has postponed the deadline for filing QST returns and making the attendant payments. This will apply to filings and payments due between March 27 and June 1, 2020, with June 30, 2020 serving as the new deadline. For reporting periods with filing deadlines that fall after June 1, 2020, the filing and payment deadlines stipulated in the tax legislation will still apply.
To provide additional support, the Québec government is speeding up the processing of business requests for tax credits and tax refunds. Taken with the QST postponement, this will add $8 billion to businesses' liquidity in the coming months: $7.3 billion for the deferral of the QST payment and more than $600 million in accelerated payments of tax credits.
Revenu Québec also announced the following new initiatives:
- Families that receive advance payment of the tax credit for childcare expenses will have access to information that will enable them to avoid repaying the overpayments in the future.
- A four-month extension has been granted on the deadlines for renewing the advanced payments of the tax credit for home-support services for seniors. The payments underway will be maintained until the renewal.
- The renewal date for payments relating to the Shelter Allowance Program is postponed until December 1, 2020. The payments underway will be maintained until the renewal.
In addition, Revenu Québec is currently attempting to accelerate the processing of income tax returns in order to ensure Québecers have immediate access to the refunds due to them. This has already resulted in refunds totalling nearly $800 million since February 24, 2020.
Related content
