COVID-19 – Canadian Tax and Business News, release #24
Our COVID-19 Canadian Tax and Business News updates are our way of informing our clients, friends and business associates with recent information that may help businesses and individuals while coping with the outcomes from the COVID-19 pandemic.
Our goal is to monitor the news and release relevant information as it becomes available.
The summary below is based on our understanding and interpretation of the announcements made by the government. The information below is in summary form and subject to change until the proposals are passed as legislation. Contact one of our professionals to discuss these matters in the context of your situation before acting upon such information.
Ontario Business Support Grants
On November 16th, eligible businesses in the Ontario red zone can apply for property tax and energy bill grants to help with these fixed costs. Furthermore, Ontario small businesses can also apply for $1,000 of support for personal protective equipment (PPE).
Property tax and energy bill rebates
Businesses that were required to shut down or restrict services as a result of being placed into the Ontario red zone (or the previous Modified Stage 2) can apply for a rebate in the form of a grant for property taxes and energy costs including electricity and natural gas (or propane and heating oil if natural gas is not available). Funding will cover the length of time the regional restrictions are in place. Businesses will not be eligible if they are located within the area subject to the public health restriction but were not required to close or significantly restrict services.
Eligible businesses can apply online with the Ontario government (see link below for the application form). Proof of expenses will have to be submitted with the application including property tax bills and digital copy of energy bills that were received on or after the restrictions were put in place for the respective region. Businesses can expect to receive rebate payments within a few weeks of submitting an application.
In order to be eligible for the PPE support, eligible businesses must have two to nine employees and be in one of the following sectors:
- accommodation and food services
- repair and maintenance
- personal and laundry services
Eligible businesses will have to submit proof of costs for PPE purchased since March 17, 2020. The maximum one-time grant is $1,000.
As we all try to stay safe, we need to remind ourselves business will get back to normal but in the meantime lets all do our part to get to normal as soon as we can. If you have any questions or require further information, don’t hesitate to reach out to us.