Canada Emergency Rent Subsidy
The Canada Emergency Rent Subsidy (CERS) provides a direct and easy-to-access rent and mortgage subsidy of up to 65% of eligible expenses to qualifying businesses, charities and non-profits. The subsidy rates are in effect until December 19, 2020. This support is available directly to tenants.
Qualifying organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can receive an additional 25% of rent support through the Lockdown Support.
The combined effect of the rent subsidy and the Lockdown Support is that hard-hit businesses, non-profits and charities subject to a lockdown can receive rent support of up to 90%.
The rent subsidy and the Lockdown Support are available until June 2021.
A quick synopsis is as follows: (see the full backgrounder for complete information)
|Your revenue drop||How to calculate your rate|
|Revenue drop of 70% or more||The maximum subsidy rate of 65%|
|Revenue drop of 50 to 70%||(Your revenue drop – 50%) x 1.25 + 40%|
|Revenue drop of less than 50%||0.8 x your revenue drop|