Canada Launches Bold Relief Plan for Small Businesses

Vancouver, BC - April 15, 2025 - On April 15, 2025, Finance Minister François-Philippe Champagne announced new relief measures designed to support Canadian businesses affected by recent U.S. tariffs. The federal government is introducing a six-month tariff exemption on certain U.S.-imported goods used in Canadian manufacturing, packaging, and public sectors.

This initiative, unveiled in Ottawa, aims to reduce cost pressures and enhance economic stability. The announcement also includes targeted support for Canada’s automotive sector and additional initiatives for small businesses, including credit card fee reductions, carbon tax rebates, and local property tax relief.

The temporary tariff relief will exempt selected goods from countermeasure tariffs, benefiting key industries including public health and national security. For automakers, a new performance-based remission framework will allow the import of U.S.-assembled, CUSMA-compliant vehicles tariff-free—provided they continue production in Canada.

Small businesses will also benefit from reduced Visa and Mastercard interchange fees, effective October 19, 2024. Businesses processing under $300,000 in Visa and $175,000 in Mastercard sales annually will see average fee reductions of 27%, potentially saving $1 billion over five years.

Under the Canada Carbon Rebate, approximately 600,000 small businesses that filed their 2023 taxes on time will share $2.5 billion in rebates. These will be distributed via direct deposit or mailed cheques based on the number of employees.

In Ottawa, small business properties will receive a 15% property tax reduction, phased in over two years. The Province of Ontario will match this with reductions in the education tax portion.

These measures represent a strong federal effort to alleviate financial burdens and bolster Canadian competitiveness. From tariff relief to environmental rebates, the initiatives reflect a strategic approach to economic resilience. For full details, visit the Department of Finance Canada website.

#Canada Business #Tariff Relief #Small Business Support #Carbon Rebate #Credit Card Fees #Finance Canada #Canadian Economy #François Philippe Champagne #Elke Porter

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