Recently, the Federal Government announced their plans to introduce legislation to provide additional support to assist businesses impacted by COVID-19. Below is a summary of the additional support announced:
Canadian Emergency Rent Subsidy (CERS) - The new CERS provides simple and easy-to-access rent and mortgage support until June 2021. The rent subsidy would be provided directly to tenants, while also providing support to property owners by supporting businesses, charities, and non-profits that have suffered a revenue drop with a percentage of their expenses being subsidized, on a sliding scale, up to a maximum of 65% of eligible expenses until Dec 19, 2020. Organizations would be able to make claims retroactively for the period that began Sept 27 and ends Oct 24, 2020.
