For businesses, non-profits and charities facing uncertainty and economic challenges due to COVID-19, the Government of Canada is now taking applications for the new Canada Emergency Rent Subsidy (CERS). The CERS delivers direct and targeted rent support without the need to claim assistance through landlords and provides:
up to 65% of rent for businesses, charities and non-profits impacted by COVID-19.
an additional 25% Lockdown Support during a public health lockdown order.
Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.
This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.
If you are eligible for the base subsidy, you may also be eligible for lockdown support if your business location is significantly affected by a public health order for a week or more.
To be eligible to receive the rent subsidy, you must meet all four of the following criteria – you:
Meet at least one of these conditions:
You had a CRA business number on September 27, 2020
You had a payroll account on March 15, 2020, or another person or partnership made payroll remittances on your behalf
You purchased the business assets of another person or partnership who meets condition 2 above, and have made an election under the special asset acquisition rules These special asset acquisition rules are the same for the Canada Emergency Wage Subsidy (CEWS). OR
You meet other prescribed conditions that might be introduced Note: there are no prescribed conditions at this time
If you don’t have a business number but you qualify under condition b or c, you will need to set one up before you are able to apply for CERS. You do not need a payroll account to apply for CERS.
Are an eligible business, charity, or non-profit (eligible entity)
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I have enjoyed spending the last 38 years helping individuals, families and businesses realize their financial and lifestyle goals. My career has included 8 years in banking, and in excess of 30 years as an insurance and investment advisor, the last 20 of which have been spent operating my own independent retirement planning practice, R&L Capital Growth.
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