• Stephen Lecce, MPP

Ontario Provides Urgent Relief for Small Businesses and Landlords

The Ontario government is partnering with the federal government to provide urgent relief for small businesses and landlords affected by the COVID-19 outbreak. The province is committing $241 million through the new Ontario-Canada Emergency Commercial Rent Assistance Program (OCECRA). The total amount of provincial-federal relief that would be provided is more than $900 million, helping to ensure small businesses are ready to reopen their doors when the emergency measures are lifted. Details of the new program were announced today by Premier Doug Ford, Rod Phillips, Minister of Finance, Christine Elliott, Deputy Premier and Minister of Health, and Dr. Merrilee Fullerton, Minister of Long-Term Care. "The vast majority of Ontario's small businesses and landlords are struggling during this extraordinary public health emergency," said Premier Ford. "That's why we are doing everything we can to support them through these tough economic times, so they can hit the ground running when we are in a position to open up the provincial economy. I want to thank the federal government for partnering with us to help our small businesses and commercial landlords. I look forward to working together to also provide much-needed support to residential renters ahead of May 1." The OCECRA will provide forgivable loans to eligible commercial property owners experiencing potential rent shortfalls because their small business tenants have been heavily impacted by the COVID-19 crisis. To receive the loan, property owners will be required to reduce the rental costs of small business tenants for April to June 2020 by at least 75 per cent and commit to a moratorium on evictions for three months. Partnering with the federal government on the OCECRA builds on the provincial government's approach to supporting business during COVID-19. As part of Ontario's Action Plan: Responding to COVID-19, the government has implemented a series of cash flow supports amounting to $10 billion to help support jobs and the economy, including:

  • Doubling the Employer Health Tax exemption for 2020, cutting taxes by $355 million, benefiting roughly 57,000 employers;

  • Eliminating penalties and interest to businesses who miss filing or remittance deadlines for various provincially administered taxes for five months starting April 1, 2020, providing up to $6 billion in cashflow for about 100,000 Ontario businesses;

  • Postponing the planned property tax reassessment for 2021, providing stability for Ontario's property taxpayers;

  • Deferring the upcoming quarterly (June 30) remittance of education property tax to school boards by 90 days, providing municipalities with the flexibility to, in turn, provide property tax defer