ARTICLE · 12 NOVEMBER 2020

Leasing Bulletin: CECRA Is Dead Long Live CERB - Exploring The Canada Emergency Rent Subsidy Program

Minden Gross LLP

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On November 2, 2020, the Government of Canada introduced Bill C-9 entitled "An Act to amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy)" (the "Bill").

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Commercial Leasing Group

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On November 2, 2020, the Government of Canada introduced Bill C-9 entitled "An Act to amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy)" (the "Bill"). The draft Bill amends the Income Tax Act (Canada) to introduce the Canada Emergency Rent Subsidy ("CERS"). CERS is the spiritual successor to the Canada Emergency Commercial Rent Assistance ("CECRA"). Its purpose is to grant eligible entities relief for rent and mortgage interest relating to commercial real property in Canada. More specifically, CERS provides:

a base subsidy the amount of which is generally determined by the decline in an eligible entity's monthly revenues, year-over-year, for the applicable calendar month; and

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