Ontario defers tax collection for businesses amid Trump tariff fallout [Video]

With the ongoing economic uncertainty created by Donald Trump’s tariffs, the Ontario government says it is deferring a number of taxes for businesses to free up cash flow.

“We can’t control President Trump, but we’re in full control of the kind of future we build for ourselves,” Premier Doug Ford said in a statement Monday. “The best way to protect Ontario is to build the most competitive economy in the G7, breaking down internal trade barriers and diversifying our trade so we can build a more resilient, prosperous and secure province.”

In a new release, the province said it will pause collection of approximately $9 billion worth of taxes, including 10 business-focused tax programs.

Those include the Employer Health Tax, Insurance Premium Tax, Gasoline Tax, Fuel Tax, Mining Tax, Tobacco Tax, International Fuel Tax Agreement, Beer, Wine & Spirits Tax, the Retail Sales Tax on Insurance Contracts and Benefit Plans and the Race Tracks Tax.

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