Ontario Reforms Provincial Business Property Tax

Ontario is reforming the province’s business property tax to support recovery from a virus-caused recession. Generally known as the Business Education Tax (BET), the new rate ensures no business will face a BET higher than 0.99 next year, and rates below 0.88 will be left alone. All industrial businesses within the Greater Toronto, ON, Area will pay the reform rate. Exempted is Halton region.