Provincial Support for Business

Provincial support for business

The COVID-19 Action Plan will help businesses get through the immediate crisis and lay the groundwork needed to get businesses back on their feet once the crisis is over.

BC Hydro COVID-19 Relief Fund small business

  • (Closed June 30th, but are still reviewing applications) Electricity use charges can be waived for up to three months for Small business that needed to close due to COVID-19 measures

BC Hydro COVID-19 Relief Fund Medium & Large business

  • (Closed June 30th, but are still reviewing applications) Accounts on the Large General Service (LGS), Medium General Service (MGS) are eligible for interest-free bill deferrals and payment plans.

BC Hydro COVID-19 Relief Fund Industry

  • Industrial customer receiving electricity at transmission voltage and on rate schedules RS1823 or RS1828, can defer up to 50% of electricity use charges for three months. Qualifying mining customers can defer up to 75% of electricity charges, depending on commodity prices.

Calling all Suppliers

  • If you can donate or supply priority neededproducts you are invited to submit an offer.

Employer Health Tax filing and payment

  • Effective immediately, B.C. is extending filing and payment deadlines for the Employer Health Tax until September 30, 2020.
  • Employers required to make instalment payments won’t need to make them until after September 30, 2020.

COVID-19 – Sales Tax Changes

  • Effective March 23, 2020, the filing and payment due dates for the following sales taxes are extended to September 30, 2020: Carbon tax, Motor fuel tax, including the International Fuel Tax Agreement, Provincial sales tax (PST), including the municipal and regional district tax on accommodation, Tobacco tax.
  • Tax returns and payments with due dates after March 23, 2020 and before September 30, 2020 will now be due September 30, 2020.

Income Tax Changes

  • The BC training tax credits are extended for three years to the end of 2022.
  • The BC farmers’ food donation tax credit is extended for three years to the end of 2023.
  • Effective July 1, 2020, pre-certification notification has been introduced for corporations intending to claim the production services tax credit.
  • Effective February 19, 2020, the accreditation certificate fee for the production services tax credit is increased.
  • Effective for taxation years beginning after February 18, 2020, the deadline to claim the Film Incentive BC and the production services tax credit is reduced to 18 months.

BDC Co-Lending Program for SMEs

  • Up to $6.25 million lending

EDC Guarantee Program for SMEs

  • Up to $6.25 million lending

BDC Working Capital loans

  • Working Capital Loans of up to $2 million and other financing options through the Business Credit Availability Program.

FortisBC’s customer Recovery

  • Small businesses that have experienced income loss or been forced to close as a result of the COVID-19 outbreak receive support in the form of bill credits to help offset the charges on your account while you’re unable to operate your business. Defer your bill payments from April 1 to June 30, 2020.

Payment deadline for Q1 2020 change

  • Business reports payroll and makes payments on a quarterly basis will not be charged a penalty if you do not pay your premium by your usual first quarter deadline of April 20. You can defer payment without penalty until June 30, 2020
  • Employers who report payroll on an annual basis do not need to report their 2020 payroll or pay their 2020 premiums until March 2021.

Direct, one-on-one service delivery program

  • Program help the tourism sector and other enterprises with rapid recovery have been developed in collaboration with Island Coastal Economic Trust, Tourism Vancouver Island and Innovation Island Technology Association

ITBC Emergency Relief Funds Program for Indigenous Tourism Businesses

  • The COVID-19 Emergency Relief Funds Program, offered by Indigenous Tourism BC (ITBC) will provide emergency relief to market-ready Indigenous tourism businesses to address immediate and short-term needs as a result of the COVID-19 pandemic that has shuttered the 2020 tourism season. ITBC understands the importance of offering an immediate, short-term financial grant, which is up to $5,000.00 per market-ready Indigenous tourism business.