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ONTARIO INTRODUCES SMALL BUSINESS RELIEF GRANT
The Government of Ontario announced today the Ontario COVID-19 Small Business Relief Grant for small businesses that are subject to closure under the modified Step Two of the Roadmap to Reopen. It provides eligible small businesses with a grant payment of $10,000.
Eligible small businesses include:
- Restaurants and bars;
- Facilities for indoor sports and recreational fitness activities (including fitness centres and gyms)
- Performing arts and cinemas;
- Museums, galleries, aquariums, zoos, science centres, landmarks, historic sites, botanical gardens and similar attractions;
- Meeting or event spaces;
- Tour and guide services;
- Conference centres and convention centres;
- Driving instruction for individuals; and
- Before- and after- school programs.
Eligible businesses that qualified for the Ontario Small Business Support Grant and that are subject to closure under modified Step Two will be pre-screened to verify eligibility and will not need to apply to the new program. Newly established and newly eligible small businesses will need to apply once the application portal opens in the coming weeks. Small businesses that qualify can expect payment in February.
Online applications for the previously-announced Ontario Business Costs Rebate Program will open on January 18. This program will provide eligible businesses that are required to close or reduce capacity with rebate payments for up to 100 per cent of the property tax and energy costs they incur while subject to public health measures.
Eligible businesses required to close for indoor activities, such as restaurants and gyms, will receive a rebate payment equivalent to 100 per cent of their costs. Those required to reduce capacity to 50 per cent, such as smaller retail stores, will receive a rebate payment equivalent to 50 per cent of their costs. A complete list of eligible businesses will be provided prior to the launch of the application portal.
In addition, Ontario is also providing up to $7.5 billion in cash flow relief through a 6-month interest- and penalty-free period starting January 1, 2022 for businesses to make payments for most provincially administered taxes.
Destination Toronto will continue to keep you informed as more information comes available. In the meantime, you can read the full announcement below.
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