Manitoba businesses granted tax filing extensions to cope with COVID-19 impact: province
New deadline gives businesses a 'two month breather' to deal with pandemic, finance minister says
Manitoba businesses will get a little leniency when it comes to filing payroll taxes because of the financial toll of the COVID-19 pandemic, the province says.
"Manitoba businesses are facing a challenging economic situation caused by the COVID-19 pandemic and we want to help them out by giving them more time to submit provincial taxes," Premier Brian Pallister said in a news release issued on Sunday.
"Some businesses may need access to these extra funds and we want to provide them with that flexibility," he said.
The province said it is extending the April and May deadlines by up to two months for small and medium-sized businesses with monthly remittances of less than $10,000, which could help more than 20,000 businesses in Manitoba.
Businesses will get an additional two months to remit retail sales taxes and the health and post-secondary education tax levy, known as the payroll tax.
"This extension gives small and medium businesses a two month breather to deal with COVID-19," Finance Minister Scott Fielding said in the release.
He said more than 95 per cent of Manitoba businesses are small or medium sized. He said the finance ministry will work with businesses to come up with flexible repayment options above the $10,000 cap.