Aside from significant new spending to tackle the COVID-19 pandemic, Ontario announced several additional relief measures today for businesses and individuals.
Ontario is making $10 billion available to improve cash flow for people and businesses during this challenging economic time. Through provincial tax deferrals and other measures, relief will be targeted to those impacted directly by COVID-19.
Tax filing and remittance deadlines will remain the same. However, beginning April 1, 2020, penalties and interest will not apply to Ontario businesses that miss a filing or remittance deadline under select provincial taxes. This will relief will continue for a period of five months.
Building on coordinated actions with the federal government, Ontario is taking immediate steps to support individuals and families in response to the COVID‑19 outbreak including:
COVID-19: Implications for Your Business
COVID-19: Global Tax Measures
COVID-19: Support for Canadians and Businesses
COVID-19: Temporary Wage Subsidy for Employers