Canada Emergency Rent Subsidy (CERS)
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The new Canada Emergency Rent Subsidy (CERS) is now available for application. Qualifying organizations that have suffered a revenue drop would be eligible for a subsidy on eligible expenses. The maximum base rate subsidy would be 65% and available to organizations with 70% or more decline in revenue in the reference period when compared to the previous period (2019 or in certain cases the average of January 2020 and February 2020). The base rate would then decline to a rate of 40% for organizations with a revenue drop of 50%, and then would gradually reduce to zero for those not experiencing a decline in revenues.
Qualifying organizations that have been significantly restricted by mandatory public health orders may qualify for an additional 25% of rent support through 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.