Payments for interim property tax bills due in April will not be subject to any late payment fees or interest for a period of 60 days.

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Corporate income tax revenues are expected to be higher relative to Budget 2019 due to strength in year-to-date fiscal results, as well as an improvement in the outlook for corporate profits.

That in itself is problematic for Quebec. *Recently Updated This will allow an international centre of expertise to be created in Montréal as part of the Global Partnership on Artificial Intelligence. The Province is building an economic recovery plan that puts people first, with input from British Columbians, businesses and community organizations – so everyone has a good job and a secure future. Through new initiatives, the Government of British Columbia is taking action to prevent plastic waste from polluting communities, shorelines and ending up in landfills.

A five-month grace period has been granted for property tax payments and payment penalties for interim property tax bills due during the five-month period from March 18 to August 19. Government has supported people and businesses with $6.26 billion in COVID-19 supports to date. Payments for the final property tax bill due in 2020 will be deferred for a period of 60 days.

On April 27, 2020, Plaza Retail REIT (PLZ.UN) announced support measures in response to COVID-19, through the implementation of a rent deferral program for certain small businesses. Please refer to the applicable province’s publications for further details before relying on such relief, as there may be conditions to the applicability of the relief that are not covered by the brief summaries below. Comments are welcome while open. The rent relief applies retroactively from April 1, 2020 until March 31, 2021. Funding provided to Employment and Social Development Canada, Global Affairs Canada, and Immigration, Refugees and Citizenship Canada for a new International Education Strategy. Other excise taxes and duties (OETD) are projected to increase by $0.4 billion, or 3.2 per cent, to $12.5 billion in 2019–20, based on recent financial results. See here for more details.

The University of Toronto (Policy and Economic Analysis Program). "But it wouldn't have been prudent to spend all our surplus at once.".

Direct program expenses—which include transfer payments administered by departments, operating expenses and the losses (gains) from employee future benefits—are projected to rise to $165.0 billion in 2019–20 and further to $172.6 billion in 2024–25. See here for more details. Ontario’s income was $9,853 higher per adult that year while Alberta’s was $17,947 higher. Ottawa facing $256-billion deficit before latest CERB extension: PBO, Trudeau promises ‘snapshot’ of federal finances on July 8, ‘Pandemic deficit’: Saskatchewan government forecasts $2.4-billion shortfall, Due to technical reasons, we have temporarily removed commenting from our articles. That means: Comments that violate our community guidelines will be removed.

Source: Fiscal reference tables (Department of Finance Canada), various provincial budgets, budget updates and public accounts.

See here for more details. Other revenues consist of three broad components: net income from enterprise Crown corporations; other program revenues from returns on investments, proceeds from the sales of goods and services, and other miscellaneous revenues; and revenues in the Exchange Fund Account. 's real GDP to decline by 5.4% in 2020, which is better than the decline of 6.6% on average across Canada, and ranks B.C. Families and businesses big winners in Quebec's mini-budget, Quebec schools to be spared cuts during all 4 years of CAQ government, premier promises, A proposed mine near a pristine water source is testing the CAQ's commitment to the environment, Making Quebec businesses more competitive, Quebec may fall short of its greenhouse gas reduction targets, François Legault suggests, 'We are waiting for real action': Opposition MNAs demand Legault lay out plan to fight climate change, CBC's Journalistic Standards and Practices. Capital projects are proceeding, and the construction industry is ready to deliver the Province’s historic capital plan. will benefit from low interest rates.

Below is a non-exhaustive summary of relief granted by municipalities that have implemented these measures.

On average, private sector forecasters expect B.C.’s real gross domestic product to decline by 5.4% in 2020 – better than the decline of 6.6% on average across Canada. Government’s support for people and businesses is estimated at $6.262 billion in 2020-21. Over 200,000 people have benefited from the disability and income assistance crisis supplements.

Employment Insurance (EI) premium revenues are projected to be higher in 2019–20 relative to Budget 2019 due to strength in year-to-date fiscal results. QUEBEC — After eight months of the pandemic, Quebecers will be getting an update on the state of the province’s finances. As the province opened up from the pandemic-induced shutdowns, however, about 231,000 jobs returned in May and the unemployment rate fell to 13.7 per cent. the success and evolution of policies enacted by central banks to provide liquidity in the financial system and laying the foundation for the recovery via low interest rates. Please refer to the applicable municipality’s publications with respect to any relief provided before relying on such relief, as there may be conditions to the applicability of the relief that are not covered by the brief summaries below. The revenue outlook includes an estimate for fuel charge proceeds that arise from the provinces and territories that are part of the federal pollution pricing system. and among B.C.’s trading partners; the evolution of public health policies and medical technologies, such as development of treatments and vaccines; the responses of the general public and impacts on consumer spending and confidence; the responses of businesses with respect to investment decisions, impacts on confidence, supply chain and business model adaptations; the success of relief measures and supports, as well as the evolution of policies enacted by governments to support corporate cash flow and personal income, maximize job retention and curb infection rates; and. Across the remainder of the horizon, declines in the premium rate result in a downward revision to EI premium revenues. On April 14, 2020, the government of Ontario extended the Emergency Order for a further 28 days, to May 12, 2020 See here for more details. The other showcase item of the mini-budget was a plan to provide tax incentives worth $1.6 billion over five years to boost the productivity of Quebec businesses. The net fiscal impact above reflects the Climate Action Incentive payments delivered in Alberta and the elimination of the provisions for Climate Action Incentive payments in New Brunswick for 2020–21 and subsequent years. 1990, c. E.9). It also reflects adjustments to the Climate Action Incentive payment amounts for Ontario, Manitoba and Saskatchewan. Funding provided to the Canadian Transportation Agency to respond to higher air passenger complaint volumes.

A 60-day grace period for property tax payments and payment penalties has been implemented as of March 16. The Emergency Order is retroactive to March 16, 2020, and will affect proceedings before the Local Planning Appeal Tribunal (the “LPAT”) in the following ways: all timelines within which any step must be taken in a proceeding before the LPAT are suspended for the duration of the emergency, the LPAT will not schedule any hearings while the Emergency Order is in effect, and all hearing events scheduled in the LPAT between March 16, 2020, and June 30, 2020, will be adjourned to a future date. Purchase of Light Armoured Vehicles for the Canadian Armed Forces from General Dynamics Land Systems–Canada to satisfy requirements for Armoured Combat Support Vehicles identified in Canada's defence policy, Strong, Secure, Engaged. On March 20, 2020, Minto Apartments announced new procedures to support residential apartment tenants, by offering a rental deferral program to support eligible residents unable to pay their rent due to COVID-19, as well as a rent freeze for all residents for a period of three months. "We'll increase, in the coming years, the money we'll be able to give back to families and seniors," he said. To read the B.C. Forests, Lands, Natural Resource Operations and Rural Development, Jobs, Economic Development and Competitiveness, New plan maps next steps forward in B.C.’s economic recovery, Premier's statement on Andrew Wilkinson's resignation as Opposition leader, Statement on public post-secondary back-to-school gatherings, Mental-health supports for post-secondary students, More opportunities for economic growth coming soon to the Okanagan, New Enhanced Care coverage starts May 2021, New judicial appointment to help clear traffic court backlog, Thousands more child care spaces coming for B.C. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. The Strategy will help Canada's youth strengthen global ties and acquire the skills needed to be successful in an increasingly competitive global knowledge economy, including problem solving, communication and adaptability. ICBC will embark on a new way of doing auto insurance in British Columbia, the largest transformation in its 40-year history. Canada Emergency Commercial Rent Assistance (CECRA), Residential Tenancies COVID-19 Regulations. Families with two children have to make less than $108,344 to be eligible. From 2020–21 to 2024–25, net foreign exchange revenues are expected to grow at an average annual rate of 10.2 per cent, largely as a result of a projected increase in interest rates. ​Funding provided to the RCMP to invest in information management and information technology infrastructure to improve capacity to better process the volume of big data produced in the context of federal investigations, including money laundering. “We are kind of afraid of the consequences.

Similarly, the government of Québec ordered the closing of all non-essential stores and services, effective as of March 25, 2020, until May 4, 2020.



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