Canada Emergency Rent Subsidy Extension
November 12, 2020
A key change in the commercial rent subsidy is that tenants can apply for the aid directly, without the need for their landlord’s support, as was required under the former Canada Emergency Commercial Rent Assistance.
- the new Canada Emergency Rent Subsidy, which provides direct access to rent and mortgage interest support to tenants and property owners until June 2021 for qualifying organizations affected by COVID-19. The new rent subsidy would support businesses, charities and non-profits that have suffered a pandemic-induced revenue drop by providing support up to a maximum of 65% of eligible expenses until December 19, 2020. The government is proposing to allow claims retroactively for the period that began September 27 and ended October 24, 2020;
- the new Lockdown Support, which provides an additional 25% to qualifying organizations that had to shut their doors or significantly limit their activities under a public health order. Combined, this would mean that hard-hit businesses subject to a lockdown could receive rent support of up to 90%; and
- the extension of the Canada Emergency Wage Subsidy until June 2021, which remains at the current rate of up to 65% of eligible wages until December 19, 2020.