The Ontario government is giving municipalities the flexibility to provide property tax relief to small businesses in their community starting in 2021.
Premier Doug Ford says the province is considering matching the reductions, which would provide small businesses with as much as $385 million in tax relief by 2022.
The province is also looking to reduce the small business corporate income tax rate from 3.5% to 3.2% beginning January 1.
Ford says COVID-19 has been hard on many small businesses and they are doing what they can to help.
Finance Minister Rod Phillips says they are looking at reducing business education taxes as well so there’s more of a level playing field across the province.
