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Ontario Tax Relief Programs

The Government of Ontario is implementing tax relief programs to assist businesses and employers during COVID-19. The following provides a brief summary of these government programs, including details relating to eligibility, how to apply and general terms and conditions, as applicable. We will endeavour to update this page on a daily basis. However, for a complete and up to date description, please see the link to the applicable program webpage contained herein. Should you have any questions, please feel free to reach out to a Goodmans lawyer. Programs include:



Employer Health Tax Relief

Program Overview

  • The Ontario Government has increased the Employer Health Tax (EHT) exemption for 2020 from $490,000 to $1 million. This increase will provide up to $9,945 in relief per eligible employers.

How to Apply

  • The Ministry of Finance will be reviewing all 2020 EHT returns and correcting the returns for the new exemption level.


Regional Opportunities Investment Tax Credit

Program Overview

  • The Government of Ontario has introduced the Regional Opportunities Investment Tax credit, which is a new 10% corporate Income Tax credit for capital investments. The Ministry of Finance will be reviewing all 2020 EHT returns and correcting the returns for the new exemption level.
  • The tax credit would be available for expenditure costs in excess of $50,000 and up to a limit of $500,000 for qualifying investments.

Eligibility

  • Canadian-controlled private corporations that make qualifying investments in building, renovating or acquiring commercial or industrial buildings in designated regions in Ontario could be eligible.

How to Apply

  • Businesses can apply for this tax credit when filing their tax return.