Canada Emergency Rent Subsidy Update

Nov 13th CERS update – per CPA Canada website


Update on CERS: Rent paid vs. payable and program start-up
In recent days, a cash flow concern was raised in respect of the Canada Emergency Rent Subsidy (CERS). As many businesses have not been able to make rent payments that are already due, concern has been raised as they will need the CERS benefit to fund these payments.
When Finance Minister Chrystia Freeland appeared before the Senate Committee on National Finance on November 12, she reported that the federal government plans to expand the rules for the CERS to include rent that is payable. We understand that the CRA is looking into how this may be accomplished administratively prior to a change being enacted.

Also, on November 13, CRA officials appeared before the same committee. During their presentation, the CRA stated that they will open the CERS application process as soon as possible after Bill C-9 receives Royal Assent. Preliminary timelines discussed included opening the CRA website for applications as early as November 20 and payments being generated as early as December 1.

We will continue to monitor this program and provide updates as needed.

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