New Targeted Support To Help Businesses Affected By The Pandemic

The Federal Government has announced new support for Canadian businesses so that they can keep workers on the job. The Government acknowledged that, even if many businesses have reopened, most are not back to full capacity and are facing the uncertainty of the second wave. The legislation to be passed will include the following:

1. Thus, the Government is updating its support for commercial rent and mortgage interest payments. A new program, the Canada Emergency Rent Subsidy, will provide direct support to businesses, not through landlords. For businesses who have seen a revenue drop, the new rent subsidy can support up to 65% of eligible expenses, and up to 90% for businesses temporarily shut down due to a mandatory second wave public health order. Support will be accessible until June 2021 for businesses and organizations that have lost revenue due to the pandemic. This benefit will replace the Canada Emergency Rent Assistance program which expired at the end of