Ontario Launches New Supports for Businesses
Ontario is introducing a new Ontario Business Costs Rebate Program and a six-month interest- and penalty-free period to make payments for most provincially administered taxes.
Eligible businesses will receive rebate payments equivalent to 50 per cent of the property tax and energy costs they incur while subject to the current capacity limits. Examples of businesses that will be eligible for the Ontario Business Costs Rebate Program include restaurants, smaller retail stores and gyms. A full list of eligible business types will be made available through a program guide in mid-January 2022.
Online applications for this program will open in mid-January 2022, with payments to eligible businesses provided retroactive to December 19, 2021.
The Government of Ontario is also providing a six-month interest- and penalty-free period to make payments for most provincially administered taxes. The six-month period will begin January 1, 2022 and end July 1, 2022.
Businesses will have the option to delay their payments for the following provincially administered taxes:
• Employer Health Tax
• Beer, Wine & Spirits Taxes
• Tobacco Tax
• Insurance Premium Tax
• Fuel Tax
• International Fuel Tax Agreement
• Gas Tax
• Retail Sales Tax on Insurance Contracts & Benefit Plans
• Mining Tax
• Race Tracks Tax
Comments are closed here.