In response to recently imposed tariffs and the resulting economic impact on Canadian businesses, the Government of Canada has announced temporary tax relief measures aimed at easing financial pressure.
Here’s what you need to know:
- Payment deadlines extended: Businesses now have until June 30, 2025 to remit GST/HST and corporate income tax (T2) payments that would have been due between April 2 and June 30, 2025.
- Interest waived: The CRA is waiving interest on GST/HST and T2 instalments and arrears payments required to be paid during this period.
- Interest relief on existing balances: Existing GST/HST and T2 tax balances will also benefit from interest relief for the same timeframe—April 2 to June 30, 2025.
Important reminders:
- Businesses must still file their GST/HST and T2 returns by their regular due dates to stay compliant with CRA filing requirements.
- Starting July 1, 2025, interest will once again apply to any outstanding amounts.
For more information, you can visit the CRA’s official page on tax relief measures here.
If you need help navigating these changes or have questions about how they may apply to your business, don’t hesitate to contact our team.
