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NY budget: New tax breaks, grants created for small businesses, restaurants


Many of New York s restaurants and small businesses will be eligible for new state grants and tax credits that could act as an economic lifeline for establishments still navigating the COVID-19 pandemic.
The state s delayed $212 billion budget, approved last week by the Legislature and Gov. Andrew Cuomo, includes incentives for business owners hit hard by the pandemic s economic fallout, including a new tax credit for restaurants. 
The new program, known as the Restaurant Return to Work Tax Credit would apply to restaurants rehiring workers or increasing employment in New York City and in areas that were subject to extended red or orange zone restrictions for at least 30 consecutive days.  ....

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B.C. launches $50m 'circuit-breaker' business relief grant


Kahlon, however, noted that restaurants (and other businesses) that have had their licences revoked due to non-compliance of COVID rules – including the latest circuit-breaker closure of dine-in operations province-wide – will not be eligible for the grant.
“We are not going to be supporting bad behaviour,” Kahlon said. “Certainly, a number of them [who had licences revoked due to COVID violations] have been prominent in the news, and this grant will not be available to them.”
The circuit breaker was introduced on March 31 due to B.C. experiencing a new spike in COVID-19 infection numbers, with daily new cases reaching its highest point during the pandemic and recording multiple days of 1,000-plus newly reported cases. The spike coincides with fears that new variants of the COVID virus may be taking hold in the province. ....

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