The Buzz

Businesses – Tax information newsletter, Edition: 2025-03 – May 22, 2025

Tariff support for your business

As of April 2 until June 30, 2025, the CRA is deferring corporate income tax payments and GST/HST remittances. Interest will also be waived on new and existing GST/HST and T2 instalment and arrears payments due between April 2 and June 30, 2025. Interest will resume on July 1, 2025.

Businesses do not need to be directly impacted by tariffs to benefit from this relief, but are still required to file by their due date to remain compliant.

For more information, go to Tax relief and support for businesses in response to tariffs.

Businesses, are you ready for your CRA mail to go online?

The CRA has started the transition to online mail as the default method of delivering most business correspondence. Businesses will receive most business notices and other correspondence through CRA’s secure online portal, My Business Account, instead of by mail.

• New business and program account registrations started May 12, 2025
• Existing businesses start June 16, 2025

For more information, go to Online Mail for business.

Global minimum tax: The new tax on multinational enterprise groups

The global minimum tax is based on an international framework that aims to reduce the incentive for multinational enterprise (MNE) groups to shift profits to low-tax jurisdictions and sets a floor on tax competition. The framework ensures qualifying MNE groups are subject to a minimum effective tax rate of 15% on their profits in every jurisdiction in which they operate.

The Global Minimum Tax Act received royal assent on June 20, 2024, and it applies to qualifying MNE groups for fiscal years that begin on or after December 31, 2023.

For more information, refer to: Global minimum tax.

Celebrating Canadian Innovation Week: May 26-30, 2025

The Scientific Research and Experimental Development (SR&ED) program is proud to support Canadian innovation across all sectors by providing over $4.1 billion in tax credits to more than 18,000 businesses annually.

To celebrate Canadian Innovation Week, we will host two webinars that will provide a general overview of the SR&ED program and its benefits. Join us for the English session on May 27 or the French session on May 29 to find out more about:

• Eligibility requirements
• What expenses you can claim
• How to claim the tax credits
• Free tools and services to help you prepare a claim

We look forward to connecting with you during Canadian Innovation Week and supporting your innovation journey.