The B.C. government has announced new supports to help businesses.
The government has announced it is reducing most commercial property tax bills by an average of 25 percent, providing $700 million in relief. This is an enhancement to the 50 percent reduction to provincial school property tax rate that was originally announced. Postponing the date that late payment penalties apply for commercial properties in classes 4,5,6,7 and 8 to Oct. 1. Giving businesses and landlords more time to pay their property tax without penalty.
The B.C. government has also announced they are authorizing local governments to borrow, interest-free, from their existing capital reserves to help pay for operating expenses, such as employee salaries. They are also delaying provincial school tax remittances until the end of the year.
You can find out more at the government of B.C.’s website.
Comments