Premier Doug Ford has announced the allocation of 10-billion dollars to help businesses improve their cash flow through Ontario’s Action Plan.
He says that includes 6-billion dollars in tax deferrals for businesses and another 1.9 billion dollars in WSIB payment deferrals for up to six months.
Finance Minister Rod Phillips said, “We’re providing a five-month interest free grace period for businesses to file or pay most provincially administered taxes,” starting April 1.
Doug Ford also thanked the Prime Minister for his announcement earlier today about federal initiatives to support businesses.
“During this unprecedented period of uncertainty and hardship, our government is doing everything possible to support businesses and protect jobs,” said Monte McNaughton, Minister of Labour, Training and Skills Development. “By making this change today, we are building upon the substantial financial help we are providing business owners and workers. The top priority is to keep people safe.”
For more details on today’s announcement, please click here.