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: 

                    -Eligible Expenses

                    -Eligible Entities

                    -Calculating Revenue

                    -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.

Jeffrey Garza Walker
Blog
September 3, 2021

Cresa employee spotlight: Jeffrey Garza Walker

Jeffrey Garza Walker is Senior Vice President in Cresa’s Phoenix office who focuses on expanding Cresa’s capabilities in global portfolio services through key industrial clients with requirements in Latin America.