News and Insights

CRA Announces Temporary Tax Relief Measures for Businesses Affected by Tariffs

April 24, 2025

Sector:

Dramatic low-angle view of skyscrapers and a Canadian flag in downtown Toronto, under a clear blue sky.

On March 21, 2025, the Government of Canada introduced temporary tax relief measures to support businesses impacted by recent tariffs. The Canada Revenue Agency (CRA) is implementing the following provisions:​

  • Deferral of Payments: GST/HST remittances and corporate income tax payments due between April 2 and June 30, 2025, can be deferred without penalty.​
  • Interest Waivers: Interest on GST/HST and T2 instalment and arrears payments required between April 2 and June 30, 2025, will be waived.​
  • Interest Relief: Existing balances on GST/HST and T2 accounts will receive interest relief during the specified period.​

These measures are applied automatically; businesses are not required to demonstrate hardship or direct impact from the tariffs. However, it is imperative to continue filing all GST/HST and T2 returns by their respective due dates to remain compliant. Interest charges will resume on July 1, 2025.

Illustrative Example:

Consider a manufacturing company with the following tax obligations:​

  • Corporate income tax instalment due on May 15, 2025: $75,000
  • GST/HST remittance due on April 15, 2025: $50,000​

Under the relief measures:

  • The company can defer the $50,000 GST/HST payment until June 30, 2025, without incurring interest.​
  • The $75,000 corporate tax instalment can also be deferred to June 30, 2025, with interest waived.​

This deferral provides the company with additional liquidity to manage operational challenges during the tariff period.

For more detailed information, please refer to the official CRA announcement:
👉 Tax Relief and Support for Businesses in Response to Tariffs

How Kreston GTA Can Help

If you require assistance in understanding how these measures apply to your business or need support with tax planning during this period, please contact our office.

Connect with us at info@krestongta.com to learn more and discuss your business!