Ontario Budget – March 2021: Budget Summary

On March 24, 2021, Finance Minister Peter Bethlenfalvy tabled Ontario’s 2021-22 budget (Budget 2021). The two
main anchors for Budget 2021 are health and the economy.

Corporate tax rates

No further changes to the corporate tax rates or the $500,000 small business limit are proposed.

Ontario Small Business Support Grant

Budget 2021 announces that the government will be providing a second round of Ontario Small Business Support Grant payments. Eligible small businesses that received the first payment will automatically qualify for the second round of support grant for a minimum of $10,000 and up to $20,000. The government will provide more details on the second grant application.

Download the pdf below for more details.