• Ontario Saving Businesses $160 Million as WSIB Lowers Premiums

  Source: Ontario - Ministry of Labour, Immigration, Training and Skills Development
  Date: 2026-10-22 14:00:00.0
  Tags: [Ontario, Economy, Labour, Taxation, Trade]

  The Ontario Ministry of Labour, Immigration, Training and Skills Development announced that the Workplace Safety and Insurance Board (WSIB) will decrease its average premium rate from $1.23 to $1.18 per $100 of insurable payroll, effective January 1, 2027, saving employers a total of $160 million. This reduction applies to over 80 per cent of premium-paying businesses—encompassing approximately 330,000 insured businesses and 5.6 million workers—and lowers Ontario's average WSIB premium rate to nearly 30 per cent below the national average. The initiative is paired with broader provincial economic measures to offset U.S. tariffs, including cutting the small business corporate income tax rate from 3.2 per cent to 2.2 per cent to deliver $1.1 billion in relief, investing $150 million through the Ontario Together Trade Fund, expanding the $1 billion Protect Ontario Financing Program, and allocating $228 million through the Canada–Ontario Workforce Tariff Response.

  Read Original

• Ontario Celebrates Small Business Week

  Source: Ontario - Ministry of Economic Development, Job Creation and Trade
  Date: 2026-10-19 14:00:00.0
  Tags: [Ontario, Economy, Taxation, Finance, Industry, Labour]

  In recognition of Small Business Week, Associate Minister Nina Tangri highlighted that Ontario's over 500,000 small businesses employ nearly 2.5 million people. The 2026 Ontario Budget cut the small business corporate income tax rate from 3.2 per cent to 2.2 per cent, providing $1.1 billion in relief and up to $5,000 in annual savings to over 375,000 small businesses. Additionally, the government is investing a record $49 million over the next three years in the Ontario Small Business Advisory Centres (OSBACs) network across more than 50 locations, alongside ongoing investments in Futurpreneur and Summer Company.

  Read Original