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City will hold information sessions about small business tax relief

The sessions will cover how the tax relief can be applied, how the tax cuts can be funded and public input into the upcoming report to city council.
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The city of Sault Ste. Marie will be hosting two webinar information sessions about the province's new optional small business property tax relief program.

The information sessions will take place virtually on Oct. 1 at noon, and Oct. 6 at 10 a.m.

These sessions will focus on input from local businesses and other interested parties in regard to these changes, which were introduced in the 2020 Ontario provincial budget.

Municipalities have been tasked with defining eligibility criteria for the small business subclass, and how it will be applied in their cities. 

“The provincial government is requiring municipalities to define small business eligibility in a way that best meets the local needs and priorities,” said Shelley Schell, chief financial officer and city treasurer.

The adoption of the subclass, including how the tax reduction is funded, is a municipal decision.

Municipalities are responsible to their tax payers to understand the impact these changes could have.

“We are looking to engage with local businesses and residents to gather their feedback on this topic. There are a number of details to consider and, should a small business tax subclass eventually be implemented, there could be implications for the other taxpayers," said Shell.

Anyone interested in attending is asked to contact Samantha Travaglini by email at s.travaglini@cityssm.on.ca.