The application period for the Canada Emergency Rent Subsidy is open. The subsidy provides direct benefits related to rent and property expenses to qualifying businesses, non-profits and charities that have suffered a drop in revenue.
Eligible expenses include commercial rent, property taxes (including school taxes and municipal taxes), property insurance, and interest on commercial mortgages.
|Revenue Decline||Base Subsidy Rate|
|70% and over||65%|
|50% to 69%||40% + (revenue drop - 50%) x 1.25
(e.g., 40% + (60% revenue drop – 50%) x 1.25 = 52.5% subsidy rate)
|1% to 49%||Revenue drop x 0.8
(e.g., 25% revenue drop x 0.8 = 20% subsidy rate)
Applications are submitted to the Canada Revenue Agency’s CRA Login Services. Organizations can claim the subsidy retroactively for the period beginning September 27 and ending on October 24, 2020.
Qualifying organizations that are subject to a lockdown and must shut their doors or significantly limit their activities under a public health order may be eligible for an additional top-up of 25% of eligible expenses through the new Lockdown Support. The Lockdown Support would be available retroactive to September 27, 2020, and until June 2021 during periods when businesses are facing eligible public health restrictions.
Learn more, Canada Emergency Rent Subsidy: Backgrounder.