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Highlights of the 2020 Ontario budget

Highlights of the 2020 Ontario budget

Ontario’s Finance Minister Rod Phillips delivered the province’s 2020 budget on November 5, 2020

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Ontario's Finance Minister Rod Phillips delivered the province's 2020 budget on November 5, 2020. The budget anticipates a deficit of $38.5 billion for 2020 and projects deficits of $33.1 billion for 2021 and $28.2 billion for 2022. Although the budget does not include any new changes to the corporate or personal tax rates, it reduces property taxes for certain businesses, makes permanent the increase to the Employer Health Tax (EHT) exemption, and extends deadlines for cultural media and research and development tax credits.

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