Corporate Business and CRA Payment Relief
Posted On: 23/05/25 - 0

There has been so much uncertainty on how tariffs could affect the operations of corporate business in Canada. In response to that uncertainty, the CRA has recently announced payment relief in the following areas.

Deferment of G.S.T. Remittances

Firstly, the CRA has deferred G.S.T. remittances from April 2nd to June 30th, 2025 for corporate business.

Deferment of Corporate Income Tax

Secondly, the CRA has deferred corporate income tax payments from April 2nd to June 30th, 2025.

Waiving Interest

Thirdly, the CRA is waiving interest on G.S.T., corporate tax installments along with arrear payments that are due April 2nd to June 30th, 2025.

Interest Relief

Fourthly, the CRA will be providing interest relief on any G.S.T. and corporate business balances between April 2nd and June 30, 2025.

Extremely Important – G.S.T. and Corporate Return Filings

It is still required that you have your G.S.T. and corporate returns filed on time to maintain compliance and eligibility for relief.

Interest Will Resume

Be advised that interest will resume on July 1, 2025.

What Corporate Businesses are Eligible?

These payment defferals apply to all businesses, whether your business is impacted by tariffs or not. If you are currently looking for an experienced corporate accountant, give our office a call.

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