Province Deferring Provincial Land Tax Payments for 90 Days
TORONTO — During the COVID-19 outbreak, the Ontario government is deferring $15 million in property taxes for people and businesses in parts of Northern Ontario located outside of municipal boundaries. This tax deferral builds on the $10 billion in cash flow supports made available to people and businesses as part of Ontario’s Action Plan: Responding to COVID-19.
“This is critical relief for over 63,000 residents and businesses in unincorporated areas across our north. Our government is diligently working to provide support to all Ontarians, including those in the far-reaching regions of our province,” said Greg Rickford, Minister of Energy, Northern Development and Mines; Minister of Indigenous Affairs. “Every community in Ontario is feeling the impact of the COVID-19 pandemic and our government is ensuring that no one gets left behind.”
“Our government is taking action to protect every person and every business across Ontario during this unprecedented time, including remote parts of Northern Ontario,” said Rod Phillips, Minister of Finance. “All communities are feeling the impacts of this global outbreak. That’s why we’re providing a measure of relief for the owners of over 63,000 residential and business properties outside municipal boundaries.”
Through these measures, Ontario is giving taxpayers in unincorporated areas more time to pay each of the four 2020 Provincial Land Tax installments. Taxpayers will have 90 extra days to pay without incurring interest or penalties. For example, taxpayers who would be required to pay the April 7 property tax installment will have until July 6 to pay without interest or penalties.
This action is complementary to new support for municipalities that were announced in Ontario’s Action Plan: Responding to COVID-19. In this plan, the Province announced it is deferring the upcoming quarterly (June 30) remittance of education property tax to school boards by 90 days. This will provide municipalities with the flexibility to, in turn, provide property tax deferrals of over $1.8 billion to local residents and businesses.
“Additional cash flow during these tough times can help keep food on the table for people in every corner of the province,” said Minister Phillips. “That’s why we’ve made $10 billion in cash flow support available through tax and other deferrals as part of Ontario’s Action Plan: Responding to COVID-19. The Province is doing its part and we’re grateful to our partners in the other levels of government for doing theirs.”
QUICK FACTS
|
