Client Update | Payment and Interest Relief for Businesses

To assist businesses dealing with the economic impact of new tariffs being imposed by the USA, the
Government of Canada announced that it will provide interest and payment relief to businesses
impacted by tariffs.

The Canada Revenue Agency (CRA) will:

• Defer GST/HST remittances and corporate income tax payment deadlines from April 2 to June 30, 2025.
• Waive interest on GST/HST and T2 Corporation Income Tax instalment and arrears
• payments that are required to be paid between April 2 and June 30, 2025.
• Provide interest relief on existing GST/HST and T2 Corporation Income Tax balance between April 2 and June 30, 2025.

Interest will resume starting July 1, 2025.

Importantly, this is not a filing extension so corporate tax and GST/HST returns due between April 2, 2025 and June 30, 2025 are still required to be filed at their normal time. This relief does not apply to personal tax returns, so if you have not yet provided us with your personal tax information please do so as soon as possible.

We will continue to monitor any changes or further information and provide updates as they become
available.

Please do not hesitate to contact your advisor at Wilkinson & Company LLP if you have any
questions.