Restaurants Canada welcomes commitments unveiled in Ontario’s budget announcement to help small businesses like restaurants pull through the ongoing COVID-19 crisis.
In response to recommendations from Restaurants Canada, today’s budget announcement from the Government of Ontario included the following commitments to support the province’s vital foodservice sector:
- Stimulus for the foodservice and hospitality sector. The province will explore ways to promote consumer spending by providing a rebate of up to 20% for eligible Ontario tourism expenses as part of a “staycation” program. Timing and eligibility criteria will be determined in consultation with industry. Restaurants Canada looks forward to working with the Government of Ontario to ensure that restaurant meals are eligible, as was the case in a similar program in New Brunswick.
- A lower tax burden on small businesses. The budget includes commitments to:
- Reduce the Business Education Tax (BET) component of property bills to 0.88%.
- Permanently increase the Employer Health Tax (EHT) exemption to $1,000,000.
- Allow municipalities to work with the province through a new Property Tax Plan for Small Businesses to create a lower property tax subclass for small businesses.
Prior to the budget announcement, Premier Doug Ford also committed to extend eviction protections for commercial tenants as part of the budget legislation.
Restaurants Canada looks forward to working with the Government of Ontario to deliver on the commitments announced today and will provide updates as further details become available.
If you have any questions or would like more information, you can get in touch with James Rilett, Restaurants Canada Vice President, Central Canada, at email@example.com or 1-800-387-5649 ext. 4241.