Creative BC News

Canada Emergency Rent Subsidy Extension

Nov 12, 2020 | News

  • 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.