With the recent restrictions placed on Ontario’s businesses, many find themselves in precarious financial situations. Businesses operating in a modified Stage 2, or in areas categorized as control or lockdown by Ontario's public health measures, are eligible for financial support from the Ontario government in the form of rebates for property taxes and energy costs. With last Friday's announcement that parts of Ontario are moving to a control stage, funding for these programs—which was originally announced in October and included in the Ontario budget—was doubled from $300 million to $600 million. This provides even more businesses that have been forced to close or operate under restricted conditions with the opportunity to apply for and receive this funding.
The application process can be initiated online, and most businesses can expect to receive their rebate payments within a few weeks of submitting their application. Apply for support.
In addition, the federal government recently introduced the new Canada Emergency Rent Subsidy and Lockdown Support to assist businesses with their rental and/or mortgage interest, property tax and insurance payments. This program, coupled with Ontario’s property tax and energy rebates, can provide significant support to businesses struggling through the economic difficulties caused by the pandemic.
For further information on programs and recent updates, visit our page.
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We understand that you want to be agile and responsive as the situation unfolds. Having access to experts, insights and accurate information as quickly as possible is critical—but your resources may be stretched at this time.
We’re here to support you as you navigate through the impacts of coronavirus on your business and your investments.