Province announces $11 billion in relief for businesses

The Canadian Federation of Independent Business is applauding the provincial government’s announcement to defer select provincial taxes for six months and provide another $2 billion in Workplace Safety and Insurance Board (WSIB) surplus funds to eligible Ontario businesses.

Premier Doug Ford says deferring select provincial taxes retroactively from April 1 to October 1 will give businesses about $9 billion worth of relief in the face of U.S. tariffs. All deferred taxes must be paid in full by the October deadline.

The measures “will help give workers and businesses the support they need in the face of growing economic uncertainty,” says Ford. “We can’t control President Trump but we’re in full control of the kind of future we build for ourselves.”

Ontario is granting relief to businesses remitting taxes under Ontario’s 10 business-focused tax programs: the Employer Health Tax; Insurance Premium Tax; Gasoline Tax; Fuel Tax; Mining Tax; Tobacco Tax; International Fuel Tax Agreement; Beer, Wine & Spirits Tax; the Retail Sales Tax on Insurance Contracts and Benefit Plans; and the Race Tracks Tax.

“The measures come at a time when our members need them most to deal with higher costs for goods and supplies, chronic lack of demand and historically low confidence levels that are negatively affecting hiring plans,” says Julie Kwiecinski, CFIB’s Director of Provincial Affairs (Ontario).

Meanwhile, the WSIB’s $2-billion rebate to safe employers is in addition to a previous $2-billion rebate that was distributed last month. “Ontario is looking to provide further relief to employers through an additional distribution that will help them keep workers on the jobs, whatever comes our way from President Trump,” says David Piccini, Minister of Labour, Immigration, Training and Skills Development.

The province also vowed to deliver on its mandate to break down internal trade barriers and strengthen the province’s economy, including by speeding up timelines and approvals for development, as well as diversifying trading partners and helping businesses if they need to retool and retrain workers for new customers in new markets.

Photo: Premier Doug Ford says deferring select provincial taxes retroactively from April 1 to October 1 will give businesses about $9 billion worth of relief in the face of U.S. tariffs.