New details on the Canadian Rent Subsidy announced
The Canadian government recently announced a new rent subsidy to replace the Canadian Emergency Commercial Rent Assistance (CECRA) program. The new subsidy will support businesses, charities and non-profit organizations that have suffered a revenue drop, by subsidizing a percentage of their expenses, on a slide scale, up to a maximum of 65% of eligible expenses.
New information on the first 12-weeks of the program have now been announced. Details include:
-Reference Period for the Drop-in-Revenue Test.
The subsidy would be available retroactive to September 27, 2020 until June 2021.
Download our article to read about the full details of the program.