As of March 24, the Government has set electricity prices for time-of-use customers at the lowest rate (“off peak”) of $0.10 / kWh, 24 hours a day, for a 45-day…
Province of Ontario: Electricity Pricing Relief
Category: Financial Resources
Province of Ontario: Postponement of Planned Property Tax Reassessment
Property tax reassessments that were supposed to be completed this year by the Municipal Property Assessment Corporation for application to the 2021 taxation year will be deferred for one year….
Province of Ontario: Regional Opportunities Investment Tax Credit
The province announced a new 10% refundable corporate income tax credit that will be available to help cover the costs of the construction, renovation, or acquisition of qualifying commercial and…
Province of Ontario: Interest and Penalty Relief
The province is not charging interest or penalties for the late filing or remittance of most provincially administered taxes through to August 31st, 2020. Eligible taxes of relevance include the…
Province of Ontario: Deferral of the Education Portion of Property Taxes
The province has deferred the upcoming quarterly payment (June 30) of the Education Property Tax due to school boards until September 30th. This will allow municipalities to then provide a…
Province of Ontario: Increase in the Employer Health Tax Exemption
The Employer Health Tax is traditionally charged to businesses with more than $490,000 of annual payroll. The government increased that starting point to $1,000,000 in payroll until January 1st, 2021….
Province of Ontario: Deferral of WSIB Premiums
Employer WSIB premiums are deferred through to August 31st, 2020, providing the average Ontario brokerage with ~$1420 of additional cash flow over the next 6 months. All employers are automatically…
Government of Canada: Canada Emergency Response Benefit
Note: If concerned about agents or employees who may be losing income during this time, you can encourage them to apply to the Canada Emergency Response Benefit. The benefit will…
Government of Canada: Tax Deferrals
The Federal government is deferring, until August 31, 2020, the payment of corporate income taxes that become owing on or after March 18 and before September 2020. No interest or…
Government of Canada: Enterprise Loan and Guarantee Program
The Federal government has created new loan programs for small and medium-sized businesses through Business Development Canada’s bank for entrepreneurs and Export Development Canada. Each entity will provide up to…