Business & Investment

Will it happen again in 2021?

2020 is a difficult year for many reasons, and the CRA has taken certain steps to address the challenge head-on and keep the economy functioning relatively smoothly. One of those measures was to delay the tax deadline. Canadians had to submit by June and pay taxes online by the end of September instead of the usual deadline at the end of April.

This allowed individuals and businesses to solve their financial problems in order to find enough money to pay off their financial obligations to the government. It was a coveted bailout for Canadian taxpayers at the time.

But it is Will happen again In 2021?

2021 tax deadline

No changes have been announced yet, so it is likely that you will have to pay taxes as usual by the end of April. One of the reasons many thought the tax deadline would change again was that the difference between the two subsequent filings would be from the usual 12 months due to the previously changed deadline and the current unchanged deadline. This is to reduce.

The downside of this reason is that it turns into a permanent cycle. Predictable tax returns and tax deadlines are beneficial to CRA and taxpayers. Employed and self-employed individuals and businesses are all categorized into tax routines that are easier to track over time and greatly manage financial management. It also makes it easier for people to track and claim deductions.

Evergreen tax deduction

RRSP contributions are evergreen deductions that reduce tax claims and help you invest in the future. 1 share Consider adding it to your RRSP portfolio. Landin mining (TSX: LUN).. A Toronto-based metal mining company with a geographically diverse business portfolio. That is, mines in the Americas and Europe. The main focus is on four metals: copper, zinc, gold and nickel.

Gold is part of a company’s portfolio of assets, but its stock price is not as sensitive to the price of gold as the price of a gold mining company. Its earnings have fluctuated in the past, but over the last two years they have grown fairly steadily. Stock prices have been weeping since the market crash and have grown by more than 176% since the worst valuations in March.

There are dividends, but a 1.25% yield isn’t very attractive.

Stupid takeaway

It is wise to plan on the assumption that the deadline will not change, regardless of whether the tax deadline changes. That way, everything is ready on time. Even if the deadline changes, you can file your tax returns on a regular schedule. This will keep you organized next year. Delaying to the last moment possible in anticipation of another delay can result in disasters and CRA fines.

Stupid contributor Adam Ottoman There are no positions in any of the listed stocks.

Will it happen again in 2021? Will it happen again in 2021?

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