As you may know on Monday, March 23rd the BC Government announced a COVID-19 Action Plan, which includes $5 billion allocated for programs that support businesses, workers, and economic recovery.
This announcement was directly informed by the COVID-19 Business Impact Survey conducted by our BC chamber network and partners, which ran from March 13-18.
Businesses said they need immediate relief and flexibility on tax remittance, specifically the EHT and PST. Today, the government promised deferred payments on these taxes, and many others, until September 30th, 2020. We also shared with government that property tax relief would be helpful for businesses right now, and they responded by cutting the provincial school tax on property in half for commercial and industrial businesses in Class 4, 5 and 6.
The BC Government also announced further wage replacement programs, as our network requested, including a tax-free, one-time payment of $1,000 to those whose ability to work has been affected by the outbreak. This benefit will be aligned with the enhanced EI eligibility put forward by the federal government.
While this isn’t yet a panacea to the crisis our members face – yesterday’s announcement will help you work through your business continuity and contingency plans. We know you’re eager to gain more clarity on how to access these initiatives, and the province will provide these details tomorrow.
Premier Horgan said that these announcements are “just the beginning,” so it’s imperative you keep using your voice. Sign up for BCMindReader.com to participate in future surveys. We’ll be using this platform to continue to ask what you need, so we can advocate to government on your behalf.
The BC Chamber of Commerce has created a page of resources for businesses affected by COVID-19. We’ll continue to update you as new resources and supports are added.
You’re not in this alone.
Denny Warner, Executive Director
Saanich Peninsula Chamber of Commerce