Province to allow municipalities to cut property tax for small businesses
More relief is on its way to Ontario small businesses. The province will now allow municipalities to cut property taxes for small businesses beginning next year. Premier Doug Ford says the province will also match the reductions which could mean up to 385-million dollars in municipal and property tax relief, “[These] property tax savings for businesses will make a huge difference.”
The government will also lower the Business Education Tax for about 94-percent of businesses across the province. In the 2020 provincial budget last week, the government also made the Employer Health Tax Exemption reduction permanent. That exemption was doubled in March to $1-million.
Ford encouraged people to support local businesses and shop locally especially as the Christmas season approaches, “Together we can all make a difference.”