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November 24, 2020

Canada Emergency Rent Subsidy (CERS)

 

Canada Emergency Rent Subsidy (CERS)

To all our business, non-profit & charity organization clients, this might be of interest!

CRA recently gave information about the newest support for businesses, non-profit organizations, and charities: the Canada Emergency Rent Subsidy (CERS). 

From CRA:

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.

The significance of the latest information is: 

  • NOT requiring the participation of landlords
  • NO minimum loss of revenue required

This subsidy will hopefully be easier to apply for, support more people, and allow businesses to overcome the challenges faced right now with Covid-19. 

To see if you are eligible to apply, follow this checklist:

https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-rent-subsidy/cers-who-apply.html

To calculate a possible subsidy amount, input your information here:

https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-rent-subsidy/cers-calculate-subsidy-amount.html

For any specific questions related to your business, non profit or charity- please contact us at Cahill CPA. We would be happy to give you more information. 

      

 

Crystal Cahill

Crystal Cahill is responsible for the social media and marketing at Cahill CPA. Crystal completed her Bachelor of Arts Degree at Simon Fraser University in English, and has an Education Degree and teaching certification. She enjoys keeping clients updated on new accounting practices, upcoming tax deadlines, and news & events within the Cahill CPA office & staff. She is married to Cahill CPA partner Jordan Cahill, and together they have two young children.