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Thursday, 23 December 2021 16:28

Provincial & Federal Governments Announce Support for Industry

Hey Folks,

Below is information about the Provincial and Federal support programs that will roll out soon to help everyone affected by the new restrictions.   Both the Province and the Feds will make the support retroactive to Dec. 19/21.  Again, I know you're all swamped right now but please read through the information and click on the links contained below.  As more details become available I will let you know.
 
Thanks,
Susan
 
 
Provincial & Federal Governments Announce Support for Industry
 
PROVINCIAL GOVERNMENT SUPPORT:
 
For businesses impacted by the most recent public health measures, the provincial government is introducing new support in response to the Omicron variant.
 
 
Ontario Business Costs Rebate Program:
Eligible businesses will receive rebate payments equivalent to 50% of the property tax and energy costs they incur while subject to current capacity limits.
 
Online applications for this program will open in mid-January 2022, with payments to eligible business provided retroactive to December 19, 2021. Businesses will be required to submit property tax and energy bills as part of the application process.
 
 
Six-Month Interest & Penalty Free Period:
The province is also providing support to help improve cash flows 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.
 
This period will begin January 1, 2022 and will end July 1, 2022. This measure will provide up to $7.5 billion in relief to approximately 80,000 Ontario businesses 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
PROVINCIAL GOVERNMENT ANNOUNCEMENT
 
FEDERAL GOVERNMENT SUPPORT:
 
The federal government has announced that they will be temporarily expanding eligibility for key support programs by expanding the definition of a lockdown order under the Local Lockdown Program. This means that employers and employees can apply for federal issued support programs if they have been subject to capacity restrictions of 50% or more. The following support will be retroactive from December 19, 2021 and will run to February 12, 2022.
 
 
Support for Employers:
If you are an employer that has been subject to capacity limits of 50% or more, you are eligible for wage and rent subsidy support between 25% to 75%, depending on revenue loss during the current month compared to 2019. The federal government has also announced that they will be lowering the revenue decline threshold from 40% to 25%. The 12-month revenue decline test continues to not be required in order to access this support.
 
 
Support for Employees:
If an employee is working in a region where capacity restrictions of 50% or more were introduced and have been directly affected by these restrictions, they can benefit from the Canada Worker Lockdown Benefit if they have lost 50% or more of their income. Employees can receive up to $300 per week to supplement lost wages.
 
FEDERAL GOVERNMENT ANNOUNCEMENT
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More in this category: « PLEASE READ: NEW RESTRICTIONS BEING IMPLEMENTED Funding Portal Open - Canada Worker Lockdown Benefit (CWLB) »
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