B.C. Finance Minister Carole James and Municipal Affairs Minister Selina Robinson (Black Press files)

B.C. Finance Minister Carole James and Municipal Affairs Minister Selina Robinson (Black Press files)

COVID-19: B.C. business, local governments get further tax relief

Commercial school tax reduced, late payments extended

An additional cut to commercial property tax for schools will produce an average 25 per cent reduction in 2020 property taxes to cope with COVID-19, B.C. Finance Minister Carole James says.

With property taxes due in July and many businesses shut or facing significantly reduced cash flow due to the coronavirus pandemic, late payment deadline for property taxes is extended to Oct. 1 without penalty, James announced April 16.

With local governments facing a drop in revenue, Municipal Affairs and Housing Minister Selina Robinson said the deadline for municipalities to pay the reduced school tax to the province has been extended to Dec. 31, 2020.

Local governments are also authorized to borrow interest-free from their existing capital reserves to cover payroll and other operating costs, and to carry debt for an additional year. They will have up to five years to restore their reserve funds.

James noted that the federal government has announced its intention to extend small business rent and lease relief, one of the more pressing issues with businesses closed or reduced in their ability to operate during the COVID-19 pandemic restrictions on movement and trade in all but essential services.

School property tax was reduced by 50 per cent in B.C.’s initial response to the coronavirus pandemic, using a $5 billion fund that was established by a B.C. legislature vote in March. The additional measures are also coming from that fund, James said.

The school tax reductions apply to major industry (property class four), light industry (class five), and other business (class six). Two more classes have been added, managed forest (class seven) and recreation and non-profit (class eight).

The B.C. government has also launched a new support service for small business with a dedicated website at covid.smallbusinessbc.ca and phone support line. Effective April 16, advisors are available Monday to Friday, from 8 a.m. to 6 p.m. (Pacific time) and Saturday from 10 a.m. to 4 p.m. at 1-833-254-4357. Inquiries can also be emailed to covid@smallbusinessbc.ca, or raised on the live-chat feature available on the dedicated website.

“Many local governments have already shown leadership by taking steps to help people and businesses and maintain services, while addressing their finances,” Robinson said. “With these new measures, we are giving local governments new tools as a first step to ease their financial burdens and that of businesses in their communities now, and as we look to recovery in the months to come.”

Maija Tait, president of the Union of B.C. Municipalities and mayor of Sooke, said the latest measures will give relief to small businesses and free up funds for local government.

“UBCM will monitor the impact of these measures on the state of local governments finances, and work with the Province to ensure that local governments have the resources to sustain their communities,” Tait said.

RELATED: Trudeau announces rent assistance, loans for small business

RELATED: Canada lost more than one million jobs in March


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

BC legislatureCoronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Local health authority maps are updated each week. The brown maps show the number of confirmed and active cases of COVID-19 for the week of Jan. 15 to 21, with the blue map showing cases over the past year. (Image supplied)
COVID-19 outbreak numbers increase at Acropolis and exposures are up in S.D. 52

Business COVID-19 safety plans are law, public needs to follow health protocols - Northern Health

Asher Hauknes shows his strength with Prince Rupert Gymnastics head coach Erin Hipkiss looking on Nov. 13. (Photo: K-J Millar/The Northern View)
Gymnastics Association benefits from Community Gaming Grant

Prince Rupert sports club to receive just less than $90,000 to build new facility

The COVID-19 outbreak at the two Coastal GasLink workforce lodges has officially been declared over. (Lakes District News file photo)
COVID-19 outbreak at Coastal GasLink worksites declared over

In total, 56 cases were associated with the outbreak in the Burns Lake and Nechako LHAs

Prince Rupert Fire Rescue was dispatched to a boat fire on Jan. 21 at Fairview Marina. (Photo: supplied)
Boat fire under investigation

Prince Rupert Fire Rescue attended boat fire at Fairview Marina

Toronto-based director Michelle Latimer was recently scrutinized after years of claiming she was of Algonquin and Metis descent. (CANADIAN PRESS/Chris Young)
Haida activist calls for hefty fines, jail time against those who claim to be Indigenous

Filmmaker Tamara Bell proposing the Indigenous Identity Act – to dissuade ‘Indigenous identity theft’

U.S. Senator Bernie Sanders sits in on a COVID-19 briefing with Dr. Bonnie Henry, provincial health officer, and Adrian Dix, B.C. minister of health. (Birinder Narang/Twitter)
PHOTOS: Bernie Sanders visits B.C. landmarks through the magic of photo editing

Residents jump on viral trend of photoshopping U.S. senator into images

A 75-year-old aircraft has been languishing in a parking lot on the campus of the University of the Fraser Valley, but will soon be moved to the B.C. Aviation Museum. (Paul Henderson/ Chilliwack Progress)
Vintage military aircraft moving from Chilliwack to new home at B.C. Aviation Museum

The challenging move to Vancouver Island will be documented by Discovery Channel film crews

A video posted to social media by Chilliwack resident Rob Iezzi shows a teenager getting kicked in the face after being approached by three suspects on Friday, Jan. 22, 2021. (YouTube/Rob i)
VIDEO: Security cameras capture ‘just one more assault’ near B.C. high school

Third high-school related assault captured by Chilliwack resident’s cameras since beginning of 2021

FILE - In this Feb. 14, 2017, file photo, Oklahoma State Rep. Justin Humphrey prepares to speak at the State Capitol in Oklahoma City. A mythical, ape-like creature that has captured the imagination of adventurers for decades has now become the target of Rep. Justin Humphrey. Humphrey, a Republican House member has introduced a bill that would create a Bigfoot hunting season, He says issuing a state hunting license and tag could help boost tourism. (Steve Gooch/The Oklahoman via AP, File)
Oklahoma lawmaker proposes ‘Bigfoot’ hunting season

A Republican House member has introduced a bill that would create a Bigfoot hunting season

Economic Development and Official Languages Minister Melanie Joly responds to a question in the House of Commons Monday November 23, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Federal minister touts need for new B.C. economic development agency

Last December’s federal economic update promised a stimulus package of about $100 billion this year

FILE - In this Nov. 20, 2017, file photo, Larry King attends the 45th International Emmy Awards at the New York Hilton, in New York. Former CNN talk show host King has been hospitalized with COVID-19 for more than a week, the news channel reported Saturday, Jan. 2, 2021. CNN reported the 87-year-old King contracted the coronavirus and was undergoing treatment at Cedars-Sinai Medical Center in Los Angeles. (Photo by Andy Kropa/Invision/AP, File)
Larry King, broadcasting giant for half-century, dies at 87

King conducted an estimated 50,000 on-air interviews

BC Coroners Service is currently investigating a death at Canoe Cove Marina and Boatyard in North Saanich. (Black Press Media File)
Drowning death in North Saanich likely B.C.’s first in for 2021

Investigation into suspected drowning Monday night continues

Kimberly Proctor, 18, was murdered in 2010. Her family has spent many of the years since pushing for a law in her honour, that they say would help to prevent similar tragedies. (Courtesy of Jo-Anne Landolt)
Proposed law honouring murdered B.C. teen at a standstill, lacks government support

Ministry of Mental Health and Addictions has concerns with involuntary detainment portion of act

Chief Public Health Officer Theresa Tam speaks during a daily briefing in Ottawa. (THE CANADIAN PRESS/Adrian Wyld)
31 cases of COVID-19 variants detected in Canada: Health officials

Dr. Theresa Tam made announces 13 more variant COVID-19 cases in Canada

Most Read