Governance Updates: 04/25/2025

The CRA is providing automatic tax relief to support businesses affected by tariffs. From April 2 to June 30, 2025, the CRA will

• Defer GST/HST remittances and corporate income tax (T2) payments
• Waive interest on late GST/HST and T2 payments (including arrears and instalments)
• Offer interest relief on existing balances

You do not need to provide proof of hardship from or impact of tariffs. The CRA will automatically grant relief on your T2 and GST/HST accounts during the relief period.

Important Reminder: Businesses must still file all GST/HST and T2 returns on time to remain compliant. Interest resumes July 1, 2025.

To read the full press release, please click here.