Financial Rebate Programs – Update
In recognition of the impact the Omicron variant and additional public health measures have on small businesses, the government is expanding the new Ontario Business Costs Rebate Program.
Eligible businesses that are required to close or reduce capacity will receive rebate payments for a portion of the property tax and energy costs they incur while subject to these measures. Eligible businesses required to reduce capacity to 50 per cent, such as smaller retail stores, will receive a rebate payment equivalent to 50 per cent of their costs, while businesses required to close for indoor activities, such as restaurants and gyms, will receive a rebate payment equivalent to 100 per cent of their costs.
A full list of eligible business types will be made available when applications for the program open later this month. To improve cash flows for Ontario businesses, effective January 1, 2022, the government is also providing up to $7.5 billion for a six-month interest- and penalty-free period for Ontario businesses to make payments for most provincially administered taxes, supporting businesses now and providing the flexibility they will need for long-term planning.
The government is also exploring options for providing further targeted and necessary supports for businesses and workers impacted by the province’s move into a modified Step Two of the Roadmap to Reopen, including grants. The government will also continue to call on the federal government to come to table and help us support Ontario businesses and Ontario workers by allowing eligible businesses to defer HST and to enhance supports available to workers affected by current public health measures.
For further information, click below.
News Release here.
Financial Relief Programs here.
**UPDATE** Worker Lockdown Benefit Program
The Federal Worker Lockdown Benefit Program is now open for applications. The Canada Worker Lockdown Benefit (CWLB) gives temporary income support to employed and self-employed people who cannot work due to a COVID-19 lockdown. If you are eligible for the CWLB, you can receive $300 ($270 after taxes withheld) for each 1-week period. You may apply for any weeks your region is eligible between October 24, 2021 and May 7, 2022.
To apply click here.
Let’s Stay Connected
We will continue to keep everyone updated with any news updates as they unfold. If you have any questions, you are encouraged to contact our Coordinator, Katerina Gourmos, at 416-654-3879 or through email at email@example.com