{"id":3558,"date":"2021-12-22T12:10:00","date_gmt":"2021-12-22T17:10:00","guid":{"rendered":"https:\/\/tobybarrett.com\/?p=3558"},"modified":"2022-01-07T12:12:13","modified_gmt":"2022-01-07T17:12:13","slug":"ontario-launches-new-supports-for-businesses","status":"publish","type":"post","link":"https:\/\/tobybarrett.com\/ontario-launches-new-supports-for-businesses\/","title":{"rendered":"Ontario Launches New Supports for Businesses"},"content":{"rendered":"\n

December 22, 2021<\/strong> <\/p>\n\n\n\n

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SIMCOE \u2014 The Ontario government is introducing new supports for many of the businesses that are most impacted by public health measures in response to the Omicron variant. These supports include a new Ontario Business Costs Rebate Program and a six-month interest- and penalty-free period to make payments for most provincially administered taxes. <\/p>\n\n\n\n

\u201cHaldimand-Norfolk businesses have fought side-by-side with the province against COVID-19,\u201d said Toby Barrett, MPP.  \u201cCapacity limits are necessary to reducing the transmission of the virus, but they also impact these businesses. For that reason we are introducing these new supports\u2014to put money directly into the hands of local business.\u201d <\/p>\n\n\n\n

Through the new Ontario Business Costs Rebate Program, 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. This will provide support to businesses that are expected to be most impacted financially by the requirement to reduce capacity to 50 per cent. 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. <\/p>\n\n\n\n

Online applications for this program will open in mid-January 2022, with payments to eligible businesses provided retroactive to December 19, 2021. Businesses will be required to submit property tax and energy bills as part of the application process. <\/p>\n\n\n\n

\u201cI commend business owners for pivoting quickly as we respond to the Omicron variant in our continued fight against COVID-19,\u201d said Todd Smith, Minister of Energy. \u201cIt is essential that we support them during their time of need, and that\u2019s why our new rebate program will provide them with the support they need right now on their energy bills.\u201d <\/p>\n\n\n\n

The province is also providing additional support to help improve cash flows for Ontario businesses by providing a six-month interest- and penalty-free period to make payments for most provincially administered taxes, supporting businesses in the immediate term while capacity restrictions are in place while providing the flexibility Ontario businesses will need for long-term planning. The six-month period will begin January 1, 2022 and end July 1, 2022. <\/p>\n\n\n\n

This measure will provide up to $7.5 billion in relief to help approximately 80,000 Ontario businesses. With this help, approximately 80,000 businesses will have the option to delay their payments for the following provincially administered taxes, helping them free up cash flow during these challenging times: <\/p>\n\n\n\n