- Federal Indirect Tax Relief: In response to U.S. tariffs, the Canadian government, led by Prime Minister Mark Carney, has introduced a fiscal support package that includes automatic deferral of GST/HST payments due between April 2 and June 30, 2025, with no interest charged during this period.
- Provincial Alignments and Extensions: Several provinces, including Quebec and Manitoba, have announced similar tax relief measures. Quebec aligns its QST relief with federal terms, while Manitoba offers a penalty- and interest-free deferral for Retail Sales Tax payments until June 20, 2025. Ontario also allows deferral of various provincial tax remittances until October 1, 2025.
- Support for Businesses: These coordinated federal and provincial tax relief measures aim to provide essential support for Canadian businesses facing economic challenges due to international trade disruptions, allowing them to manage their tax obligations without penalties during a critical period.
Source Taxbackinternational
Click on the logo to visit the website
