CERS rate structure confirmed to June 5

CERS rate structure holds steady until June 5

Wednesday, March 3, 2021

The Canada Emergency Rent Subsidy (CERS) and associated top-up support will remain at the current rate structure until June 5, Finance Minister Chrystia Freeland confirmed today. The federal government had reserved the option to adjust the funding levels after March 13 when it introduced the relief program in November 2020. She also pledged a continued stable level of funding for employers eligible for the Canada Emergency Wage Subsidy.

“Workers and businesses have showed incredible resilience over the past year, especially through this difficult winter,” Freeland says. “With variants in Canada and many regions still under lockdown, we are giving workers and businesses the certainty they need.”

CERS subsidizes up to 65 per cent of fixed property costs, while businesses facing further constraints due to more stringent public health measures in some locales can qualify for an additional 25 per cent allocation — resulting in a 90 per cent subsidy. As of February 21, the government estimates more than 129,000 businesses and not-for-profit organizations had collectively received more than $1.6 billion to help cover costs such as rent, mortgage, utilities and insurance, while program costs for March 14 to June 5 are projected at $2.1 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *