Canadian businesses can now apply for the federal government’s new Canada Emergency Rent Subsidy (CERS). This is replacing the previous rent-support program for businesses that was introduced in the spring, which was not utilized as much as the government had hoped, largely because it replied on landlords to apply for help. With CERS, tenet business are instead applying for the subsidy directly.
The new program covers up to 65% of rent or commercial mortgage interest on a sliding scale based on the applicant’s revenue declines, with an extra 25% available to the hardest-hit companies.
Those eligible are Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic. They’re eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.
This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.
For more information about the program, including a tool for calculating your eligible subsidy, go here: www.canada.ca/en/revenue-agency/services/subsidy/emergency-rent-subsidy.html
To apply, and for a guide to the application process, go here: www.canada.ca/en/revenue-agency/services/subsidy/emergency-rent-subsidy/cers-how-fill-out-application-form.html#h-4
