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Ontario 2020 Budget TaxTips.ca
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Ontario   ->   Budgets - > Ontario 2020 Budget

Ontario 2020 Budget - November 5, 2020

Business Tax Measures

bulletEmployer Health Tax (EHT) $1 million exemption will be in effect for the 2020 to 2028 years, and starting in 2029 will be adjusted for inflation every 5 years.
bulletEHT instalment threshold increased to $1.2 million for tax years beginning after December 31, 2020.
bulletBook publishing tax credit restriction to editions of 500+ copies will not apply to literary works published in 2020 or 2021.
bulletStandardizing the rate of the Business Education Tax (BET) - proposed maximum 2021 rate is 0.88%.

Personal Tax Measures

bulletSeniors' Home Safety Tax Credit

Other Tax Measures

bulletproperty tax exemption for Royal Canadian Legion branches extended to Ontario units of the Army, Navy and Air Force Veterans in Canada for 2019 and subsequent years

The above are the major tax measures - see the Ontario government website for the complete budget and for the Details of Tax Measures and Other Legislative Initiatives.

Bill C229, Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020 was tabled November 5, 2020.

Government of Ontario Resources

Employer Health Tax (EHT)

Book Publishing Tax Credit (OBPTC)


Revised: November 06, 2020

 

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