Ontario announces additional support for some businesses

Ontario Premier Doug Ford discusses the COVID-19 vaccine rollout adjustments at Queens Park, Toronto, January 25, 2021. Image courtesy Premier of Ontario/YouTube.

The Ontario government has announced new programs to support many of the businesses that are most impacted by the latest public health measures in response to the Omicron variant.

The new Ontario Business Costs Rebate Program will provide payments equivalent to 50 per cent of the property tax and energy costs businesses incur while subject to the current capacity limits.

The will also receive 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.

Eligible businesses include restaurants, smaller retail stores and gyms.  Online applications for this program will open in mid-January 2022.

“Ontario businesses have already contributed so much to the province’s fight against COVID-19,” said Peter Bethlenfalvy, Minister of Finance. “We recognize that these necessary capacity limits to reduce the transmission of the virus will impact businesses, and that’s why we are introducing these new supports, which will put money directly into the hands of business and free up their cash flows during this critical time.”

“I commend business owners for pivoting quickly as we respond to the Omicron variant in our continued fight against COVID-19,” said Todd Smith, Minister of Energy. “It is essential that we support them during their time of need, and that’s why our new rebate program will provide them with the support they need right now on their energy bills.”