Deferred Corporate Income Tax and GST/HST Remittances Announced

MARCH 24, 2025

The CRA is offering a small deferral in the payment of tax. If you’re feeling the pinch from rising tariffs or broader cash flow constraints, you can delay tax payments without penalty on the following:

• Corporate income tax payments

• GST/HST remittances

This deferral applies to payments due between April 2 and June 30, 2025. Businesses will not incur penalties or interest during this period as long as payments are made by the June 30 deadline.

The penalty and interest relief is only valid if payments are made by the end of the deferral period, which is June 30. If you miss that deadline, the CRA will begin applying interest and a 7-8% penalty for the three month period retroactively — from the original due date, not from July 1.

If your business is experiencing short-term financial pressure, this deferral could help manage liquidity and prioritize operational needs in the months ahead.

Please don’t hesitate to reach out if you need help planning around this window, optimizing cash flow, or assessing other relief programs available.