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Ontario’s Action Plan: Responding to COVID‑19 outlines the first steps in the Provinces plan to tackle the COVID19 outbreak. The action plan will provide $3.3 billion in additional health care resources, $3.7 billion to support people and jobs, and measures that will make available up to $10 billion in support for people and businesses through tax and other deferrals to improve their cash flows, helping protect jobs and household budgets.  Read it here.

Business supports include:

– Allowing employers to defer payments to the Workplace Safety and Insurance Board (WSIB) for up to six months

Increasing the Employer Health Tax (EHT) exemption to $1 million

– Providing a five-month interest and penalty-free period for business to make payments for the majority of provincially administered taxes

– Supporting regions lagging in employment growth with a proposed new Corporate Income Tax Credit, the Regional Opportunities Investment Tax Credit. 

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