COVID-19 Resources

Taxation Concerns/Questions

At the current time, the Federal and Provincial Government have released a number of support programs to assist individuals and small businesses.

We encourage you to review the federal and provincial support programs that are available and may be of assistance during this challenging time.

Here is a link to some of the programs currently available. We understand that this list is updated frequently so please be sure to check back regularly:

Ontario - COVID-19: Support for Businesses

Canada - Support for Businesses

Peterborough & the Kawarthas Economic Development - COVID-19 Information

Peterborough Chamber of Commerce - COVID-19 Business Resource Portal

Kawartha Chamber of Commerce & Tourism - COVID-19 Business Relief

*Please note that this list may be updated by either the Federal or Provincial government at any time and we encourage you to check the information at the source.

Federal

The federal government is allowing businesses to defer, until after August 31, 2020, the payment of any income tax amounts that became owing on or after March 18th and before September 2020. There are no interest or penalties.
Business Credit Availability Program – Loans through Business Development Bank of Canada and Export Development Canada. Includes:
- Loan Guarantee for Small & Medium Sized Enterprises - new operating credit and cash flow terms
- Co-Lending Programs for Small & Medium Sized Enterprises - co-lend term loans to small and medium sized enterprises for their operational cash flow requirements
Canada Emergency Business Account – Interest free loans up to $40,000 for small businesses and not for profits where revenues have been reduced
Canada Emergency Commercial Rent Assistance Program – for small businesses that – Will provide loans/and or forgivable loans to commercial property owners who will in turn lower or forgo the rent of small businesses for the months of April, May & June (This might be of benefit to our taxpayer who emailed us)
Canada Emergency Response Benefit (CERB) for self-employed individuals:
- Taxable benefit of $2,000 every 4 weeks for up to 16 weeks to eligible workers who have lost their income due to COVID 19
- As of April 14th, individuals can earn up to $1,000 per month while collecting CERB
Temporary Wage Subsidy for Employers – The 10% Temporary Wage Subsidy for Employers is a three month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency.
Canada Emergency Wage Subsidy – the new Canada Emergency Wage Subsidy (CEWS) provides a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. This helps to prevent further job losses, encourage employers to rehire works previously laid off as a result of COVID-19 and to help better positon Canadian companies and other employers to more easily resume normal operations. Employers eligible for CEWS are entitled to receive a 100% refund of certain employer contributions to EI, CPP.
Allowing all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18th and before September 2020. No penalties will accumulate on these amounts during this period.
Allowing businesses, including self-employed individuals, to defer to June 30, 2020, payment of the GST/HST, as well as customs duty on their imports. Any GST/HST payment that becomes owing from March 25th until the end of May can be deferred until the end of June.

Provincial

Deferred WSIB Payments for up to six months
Increased Employer Health Tax Exemption – taxpayers will only make installment payments after payroll has exceeded the new $1 million exemption level
Providing a five month interest and penalty free period to make payments for the majority of provincially administered taxes

The information listed does not include separate assistance programs for individuals and families such as one-time financial assistance during school and child care closures, doubling the Guaranteed Annual Income System payment, providing Ontario Student Assistance Program relief of interest.

According to Section 106 of the Municipal Act, which is a document that governs municipal operations, a municipality shall not (among other things), grant assistance by “giving a total or partial exemption from an levy, charge or fee”. Municipalities are not permitted to waive taxes.

The work of the municipality is still continuing and therefore, the municipality is still incurring planned and forecasted expenses that are partially funded by property tax revenues. The County requires this tax revenue so that we can continue to provide the services that we are mandated to provide and to support our residents.