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Last updated: April 09 2020
Tax Season 2020: Close to 11 Million Have Filed
Beth Graddon
The federal government pushed out this year’s tax filing deadlines in order to relieve some pressure on taxpayers, professionals, and CRA staff all coping with the effects of the pandemic. Has tax season slowed down as a result? It doesn’t really appear so when you compare the first month of tax filing season to the most recent statistics released by the government.
This may be a good sign, as for many Canadians, there will be no benefit to delaying to file. Those expecting a refund should get their hands on their money sooner rather than later, especially if the CRA’s processing times have potential to be impacted by the pandemic. In addition, those with regular benefit payments like the Canada Child Benefit should also file soon in order to ensure that upcoming payment amounts can be calculated correctly and without delay. The details follow. Note that over 90% of returns have been filed electronically.
|
Returns received from February 10, 2020 to April 6, 2020 |
||
|
Filing method |
Number of returns |
Percentage of total |
|
EFILE |
5,693,329 |
52.3% |
|
NETFILE |
4,316,370 |
39.7% |
|
File my Return (FMR) |
44,221 |
0.4% |
|
Total - electronic |
10,053,920 |
92.4% |
|
Paper |
829,205 |
7.6% |
|
Total - all methods |
10,883,125 |
100% |
The average refund has dropped since the start of this tax filing season. Now coming in at under $1,800, as shown below:
|
Returns processed from February 12, 2020 to April 6, 2020 |
||||
|
|
Number of returns |
Total dollar value |
Average amount per return |
Percentage of refunds |
|
Refund by cheque |
1,444,176 |
$2,208,912,916 |
$1,530 |
20% |
|
Refund by direct deposit |
5,883,001 |
$10,847,841,760 |
$1,844 |
80% |
|
Total refunds |
7,327,177 |
$13,056,754,676 |
$1,782 |
100% |
|
Balance owing |
1,308,938 |
$4,805,384,074 |
$3,671 |
n/a |
|
Nil return |
1,202,082 |
n/a |
n/a |
n/a |
This month’s poll relates directly to the issue of how tax season has changed this year, in asking: “Do you like the federal government’s tax filing and balance due extensions to June 1 and August 31 respectively?” Weigh in!
Knowledge Bureau Report will keep you updated on the latest tax season statistics as they are available.
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