COVID-19: Economic Relief Measures Announced to Date

  • The Minister of Finance announced on March 25, 2020, that the Government of Ontario will be making available $6 billion by providing the following relief measures:
    • five months of interest and penalty relief for businesses to file and make tax payments for the majority of provincially administered taxes.
    • Over $1.8 billion will be made available to businesses by deferring by 90 days the upcoming June 30 quarterly municipal remittance of education property.
    • $1.9 billion will be devoted to the Workplace Safety and Insurance Board (WSIB), allowing employers to defer payments for up to six months.
    • The Employer Health Tax exemption will be increased to cut taxes by $355 million for approximately 57,000 employers.
  • The Regional Opportunities Investment Tax Credit provides a 10% refundable tax credit for capital investments in regional development. This tax credit can be claimed upon completing the annual tax return. More information on eligible corporations, spending requirements and eligible regions is available here[195].
  • For more information, see the Government of Ontario’s news release of March 25, 2020.[196]

New legislation ensuring delivery of goods

  • On March 19th, the legislature also passed the Municipal Emergency Act, 2020, ensuring that delivery of goods to Ontario’s businesses and consumers is not impacted by municipal noise by-laws.

  • The legislation also gives municipalities the ability to fully conduct Council, local board and committee meetings electronically in emergencies.

  • For more information, see the Government of Ontario’s news release of March 19, 2020.[197]

Regional development Program

  • The Ontario government is investing more than $4.2 million through the Regional Development Program to support important infrastructure projects in the County of Simcoe, the Town of Tillsonburg and the City of Sarnia.

  • For more information, see the Government of Ontario’s news release of August 14, 2020.[198]

Relief measures for individuals

Measures to Cap Interest and Fees on Loans

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