The province announced over $12 million in support for businesses hit hard by COVID-19.
The government stated three programs, one new and two previously announced, will help
small business owners through rebates, with an immediate infusion of cash to hire staff, pay down debt or order supplies.
Starting today, applications are open for the Tourism Accommodations Real Property Tax Rebate Program Part 2, which provides operators with a 50 per cent rebate on the first six months of commercial property tax paid in 2021-22.
Applications will open the week of May 10 for the Small Business Real Property Tax Rebate Program, which will offer businesses a one-time rebate of a portion of their paid property taxes. They can 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 new Small Impact Business Grant Part 3 opens for applications this week to provide grants of up to $5,000 for Nova Scotia businesses directly affected by the April 2021 restrictions. Eligible businesses will receive a one-time grant of 15 per cent of their sales revenue for the month of April 2019 or February 2020, up to a maximum of $5,000.
Inclusive Economic Growth Minister Labi Kousoulis made the announcement this morning.
Here are some of the details of the programs announced today:
Tourism Accommodations Real Property Tax Rebate Program Part 2:
- $7.3 million has been allocated for the this program, which will be administered by Tourism Nova Scotia
- businesses applying for this program must meet the definition of a roofed accommodation as set out in the Tourist Accommodation Registration Act, be registered as a host under the act, have more than five rooms available to rent, not be in arrears of property taxes or property tax installment payments and have experienced a year-over-year revenue loss of at least 30 per cent from April 1 to Oct. 31, 2020
Small Business Real Property Tax Rebate Program:
- $7 million has been allocated for this program, which will be administered by the Nova Scotia COVID-19 Response Council
- this program will be available to gym and fitness establishments, hair salons and barber shops, spas, nail salons, body art establishments, restaurants offering in-person dining service and bars and licensed drinking establishments
- eligible businesses must be recipients of previous Small Business Impact Grants (part 1 or 2), have experienced a year-over-year decline in revenues of at least 30 per cent for the period April 30, 2020 to Jan. 31, 2021, or have started operations on or after Jan. 1, 2020
Small Business Impact Grant Part 3:
- an additional $12 million has been allocated for this program, which will be administered by the province
- this program will be available to restaurants offering in-person dining service, bar or licensed drinking establishments, fitness, recreational and leisure facilities including gyms, yoga studios, indoor play areas, arcades, climbing facilities, dance programs and music lessons, personal services including hair salons, barber shops, spas, nail salons and body art establishments, independent retailers with a physical retail location and live performing arts