Ontario faces an unprecedented challenge in its fight against COVID19.
In response, our Government has taken action and will enable $1.9 billion in relief for employers to reduce the financial strain on businesses. It’s the right thing to do.
The Hon. Monte McNaughton, Minister of Labour Training and Skills Development, offers the following caucus kit to communicate this relief.
The relief package, which will run through the Workplace Safety and Insurance Board (WSIB), will see premium payments deferred for six months (until August 31st, 2020) for all businesses in the province.
All employers covered by WSIB are automatically eligible for the provisions of the relief package; there is no need to opt in to receive this benefit. The deferred premiums will amount to an average $1,760 for approximately 275,000 Ontario businesses. Businesses are not required to inform the WSIB that they will take advantage of this financial relief package.
In addition, WSIB will cease interest accrual on all outstanding premium payments. They will not charge penalties during this six-month period. Be assured that WSIB will continue to fully cover workers at eligible workplaces.
Our Government is working day and night to provide Ontarians with certainty and support during this difficult time.
- The health and safety of Ontarians is our top priority, and businesses need support to keep the lights on during time of uncertainty and hardship. We will do everything in our power to support businesses and save jobs.
- That’s why Ontario is enabling $1.9 billion in relief for employers to reduce the financial strain on business brought on by COVID-19.
- We’re allowing businesses to defer their WSIB premiums for six months, until August 31, 2020. This will save the average business $1,760.
- All businesses are automatically eligible. They will not be required to opt in. Additionally, no interest will accrue on outstanding premium payments and no penalties will be charged during this six-month deferral period.
- Helping employers survive this challenging period is an essential part of our government’s response to COVID 19.
- The WSIB relief program is part of a $17 billion package included in Ontario’s Action Plan: Responding to COVID-19.
- The government action plan will make available $10 billion in support for people and businesses through tax and other deferrals to improve their cash flow, protecting jobs and household budgets.
- Our government is working day and night to provide Ontarians with certainty and support during this difficult time
- As the COVID-19 outbreak continues to evolve locally and globally, Ontario continues to take action to ensure the province’s health care system and economy are protecting the health and well-being of Ontarians.