The CRA is waiving interest and penalties on late filed and late paid UHT returns until October 31, 2023, effectively extending the deadline.
I’m a bit conflicted with this decision, on one hand, I can file them after May and wait for more interpretations to come out. On the other hand, I hate that I’ve wasted countless number of hours doing a ton of work on this and now it’s just going to become a summer project.
Also with the release of federally mandated dental benefit support, $500 rent support subsidy, FHSA being released on April, the useless UHT return, etc all being released in just a few months has quite frankly burnt out my staff and myself.
I’m grateful. At least all my prep work is done, the summer work will just be the filing of the returns I already know I need to file, and verifying some of the ‘grey area’ situations.
My understanding is that interest and penalties are waived on late filed UHT returns but the deadline for filing is still April 30th.
This could mean that if a person late files their UHT in a future year they are susceptible to increased penalties as a “repeat” late filer.
They could have just extended the deadline if that was the intent.
I’m still going to try to get all of these filed by April 30th.
Fair comment. We’ll file any that are ready to go and only hold off on the ‘grey area’ ones where we are hoping a clarification will exclude them from filing at all.