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Canada launches rent subsidy support for businesses

Canada launches rent subsidy support for businesses

Certain organizations affected by COVID-19 may be eligible to receive the new Canada Emergency Rent Subsidy

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Under this new relief, businesses, eligible charities and non-profits that experience a revenue drop would be eligible to claim a subsidy on eligible expenses, on a sliding scale up to a maximum of 65% of eligible expenses, including rent and interest on commercial mortgages, from September 27, 2020 until June 2021. The government has now provided details of the first stage of this new relief until December 19, 2020, and advises that elements of this new subsidy generally mirror the Canada Emergency Wage Subsidy (CEWS), including a sliding rate scale and certain eligibility considerations.

In addition to this new subsidy of up to 65%, organizations affected by a public health lockdown may also be eligible for a 25% Lockdown Support Subsidy. Legislation to implement the new Canada Emergency Rent Subsidy and the Lockdown Support Subsidy, among other support measures, received first reading in the House of Commons on November 2, 2020, and is expected to soon pass into law. The application process for these new subsidies is not yet available.

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