Call for Government Action
Numerous organizations, including BIABC, have called on governments to not charge late filing penalties and installment interest on balances owing to government from today until COVID-19 is under control.
For the federal government, this includes payroll installments, GST and corporate taxes.
For British Columbia this includes Employer Health Tax, PST and WCB premiums. As well, to remove the requirement for BC municipalities to charge 10 percent on the late payment of property taxes.
In addition, for the Business Development Bank of Canada to provide businesses with access to interest-free loans.
Monitoring the Impact to Small Business
BC Chamber of Commerce and Small Business BC have teamed up to learn the impact of COVID-19 on small business. Please fill out their survey yourself and encourage your members to do the same.
COVID-19 Economic Information
The sands are shifting on an hourly basis. But here are some links to what we know, as of now:
- Small Business BC
- Government of Canada Plans for Businesses and Individuals
- Government of BC Plans – to date
COVID-19 Health Information