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When Extreme Weather Hits


Richard Weber on September 12, 2014 in Advice for Business Owners

When Extreme Weather Hits: How to Handle Filing Your Taxes

As seen by the major flooding in Alberta last summer, natural disasters can escalate quickly. During these events, filing deadlines are put on the back burner and personal safety takes priority. 

If extreme weather hits, taxpayer relief provisions are available if you are unable to meet your tax obligations.

“Corporations who are unable to file their T2 returns by the filing deadline of June 30th, due to flooding or other circumstances beyond their control can apply to have interest and/or penalties waived or cancelled using Form RC4288, Request for Taxpayer Relief. Business owners and self‑employed individuals who are unable to meet their filing and payment obligations may also be eligible for relief.”

The taxpayer relief provisions are to assist taxpayers in resolving tax issues that arise due to circumstances beyond their control. This includes:

  • Natural or human-made disasters, such as flood or fire;
  • Civil disturbances or disruptions in services, such as a postal strike;
  • Serious illness or accident; and
  • Serious emotional or mental distress, such as death in the immediate family.

Each request is assessed on a case-by-case basis. For more information, please contact Kelly Ross, Tax Manager at (905) 633-6335.

Source: http://www.cra-arc.gc.ca/gncy/cmplntsdspts/cnclwvpnlty/menu-eng.html