Some much-needed help is on the way for Nova Scotian small businesses in the form of a $7 million commercial tax rebate.
Announced on Tuesday, Premier Iain Rankin says that the funding will be distributed to small service businesses like hair salons, tattoo parlours and restaurants.
“This is cash in the pockets for restaurants and other small businesses in the service sector,” said Premier Iain Rankin. “The rebate may be based on property taxes but is designed to be used by business owners to support any aspect of their business, including hiring staff or paying down debt, paying utilities or ordering supplies. We understand and appreciate the sacrifices that restaurants and other businesses in the service sector have made to protect all Nova Scotians.”
According to Rankin, approximately 3,300 businesses will be eligiable for the rebate.
Eligible businesses will be able to choose a rebate of $1,000 or 50 per cent of the commercial real property taxes paid for the final six months of the 2020-21 tax year.
The Restaurant Association of Nova Scotia is applauding the move saying, “The Restaurant Association of Nova Scotia is pleased to see the provincial government’s support for the restaurant industry during the pandemic. The property tax rebate will assist operators, who are in survival mode, and represents a step forward in the recovery process. It is a positive move for the future of the sector.”
Information on eligibility and how to apply can be found on the Nova Scotia COVID-19 webpage.
