Canada Emergency Wage & Rent Subsidy + Lockdown Support for Businesses Update

Expires: never
Canada
Posted 3 weeks ago

Minister Chrystia Freeland, introduced Bill C-9, An Act to Amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy), which created an enhanced rent subsidy program, and well as extending the wage subsidy through until June 2021. As previously announced, these business supports are proposed to include:

  • The new Canada Emergency Rent Subsidy, which would provide direct and easy-to-access rent and mortgage interest support to tenants and property owners until June 2021 for qualifying organizations affected by COVID-19. The new rent subsidy would support businesses, charities, and non-profits that have suffered a revenue drop by providing support up to a maximum of 65 per cent of eligible expenses until December 19, 2020. The government is proposing to allow claims retroactively for the period that began September 27 and ended October 24, 2020.
  • The new Lockdown Support, which would provide an additional 25 per cent through the Canada Emergency Rent Subsidy for qualifying organizations that are subject to a lockdown and must shut their doors or significantly limit their activities under a public health order issued under the laws of Canada, a province or territory (including orders made by a municipality or regional health authority under one of those laws). Combined, this would mean that hard-hit businesses subject to a lockdown could receive rent support of up to 90 per cent.
  • The extension of the Canada Emergency Wage Subsidy until June 2021, which would continue to protect jobs by helping employers keep employees on the payroll and re-hire their workers. The wage subsidy would remain at the current rate of up to 65 per cent of eligible wages until December 19, 2020.

Was this post helpful?

Job Features

Job CategoryFinancial

Return to Resource search >