ONTARIO ANNOUNCES NEW COVID-19 SUPPORTS FOR BUSINESSES
Dec 22, 2021
By Bob Komsic
The Ford government’s unveiled new supports for businesses, including the Ontario Business Costs Rebate Program.
Eligible businesses include restaurants, smaller retail stores and gyms.
A full list of those eligible will be made available in mid-January, when online applications will open, with payments retroactive to December 19.
The Business Costs Rebate Program will see those eligible receive rebate payments equivalent to half of the proterty tax and energy costs they incur while subject to current capacity limits.
The province is also providing a six-month-interest and penalty free period to make payments for most provincially administered taxes.
It’ll begin New Years Day ending Canada Day.
The government estimates this will provide up to $7.5-billion in relief to about 80,000 businesses.
In making the announcement, the province is also calling on Ottawa to strengthen federal supports, including adjusting eligibility for the Tourism and Hospitality Recovery Program, the Hardest-Hit Business Recovery Program, while also ensuring businesses experiencing partial capacity restrictions can qualify for the Local Lockdown Program.
Ontario’s also inviting the federal government to work with Queen’s Park to further help businesses struggling with cash flow challenges by developing a program that would allow those hard hit to temporarily defer remittance of the HST, starting in December, interest-free for up to six-months.