Ontario Will Now Reimburse Some Bills For Restos & Gyms While They Are Closed
Other businesses at 50% capacity can also cash in.
Restaurant owners, gym owners, and businesses were impacted by the new restrictions that were announced on Monday, but the Ontario government is trying to sweeten the deal with cash or, more accurately, rebate money.
The Ontario government announced that the province will return to a modified version of step 2 this week.
Indoor dining for restaurants and gyms will close on January 5 at 12:01 a.m until January 26 or longer, along with other capacity and gathering limits and new restrictions.
On December 22, 2021, the government announced a new Business Cost Rebate Program along with a six-month tax delay for certain provincial taxes to help unbutton cash flow for businesses impacted by restrictions.
As of January 3, the government has announced an expansion for the program, which means more cash if your business is closed or impacted by capacity limits under the new restrictions.
Restaurants, gyms and other unidentified businesses that have had to shut their doors will be able to claim a 100% rebate on energy bills and property tax for the duration they are closed under new restrictions.
Businesses such as retail stores, which will be required to run at a 50% capacity, will be able to claim 50% of their costs for energy and property tax once the portal for applications is open.
The program application and official list of eligible businesses are to come later this month, according to a government handout.
The update will keep the "six-month interest- and penalty-free period for Ontario businesses to make payments for most provincially administered taxes" for as much as $7.5 billion to allow for the "flexibility they will need for long-term planning."
The Ontario government is also looking into providing additional support for employees and businesses such as grants as the province heads back to an altered step 2.
This article's cover image was used for illustrative purposes only.