Surrey Business News

New Canada Emer­gency Rent Sub­sidy

- Business · Society · Canada News

Rent and mort­gage sup­port un­til June 2021 for qual­i­fy­ing or­ga­ni­za­tions af­fected by COVID-19. The rent sub­sidy would be pro­vided di­rectly to ten­ants, while also pro­vid­ing sup­port to prop­erty own­ers. The new rent sub­sidy would sup­port busi­nesses, char­i­ties, and non-prof­its that have suf­fered a rev­enue drop, by sub­si­diz­ing a per­cent­age of their ex­penses, on a slid­ing scale, up to a max­i­mum of 65 per cent of el­i­gi­ble ex­penses un­til De­cem­ber 19, 2020. Or­ga­ni­za­tions would be able to make claims retroac­tively for the pe­riod that be­gan Septem­ber 27 and ends Oc­to­ber 24, 2020.

• A top-up Canada Emer­gency Rent Sub­sidy of 25% for or­ga­ni­za­tions tem­po­rar­ily shut down by a manda­tory public health or­der is­sued by a qual­i­fy­ing public health author­ity, in ad­di­tion to the 65 per cent sub­sidy. This fol­lows a com­mit­ment in the Speech from the Throne to pro­vide di­rect fi­nan­cial sup­port to busi­nesses tem­po­rar­ily shut down as a re­sult of a lo­cal public health de­ci­sion.

Newspapers in English

Newspapers from Canada