Canada Emergency Rent Subsidy (CERS)
Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic may be eligible for the Canada Emergency Rent Subsidy (CERS) to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.
How does the subsidy work?
This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.
If you are eligible for the base subsidy, you may also be eligible for lockdown support if your business location is significantly affected by a public health order for a week or more.
How to qualify for this subsidy?
To qualify for this subsidy you must meet at least one of these conditions:
- Had a CRA business number on September 27, 2020, or
- Had a payroll account on March 15, 2020, or another person or partnership made payroll remittances on your behalf, or
- Purchased the business assets of another person or partnership who meets condition b above, and have made an election under the special asset acquisition rules
- Experienced a drop in revenue
- Are an eligible business, charity, or non-profit
- Have eligible expenses
If you need more information about this program, contact RGB Accounting via phone at (416) 932-1915 or email at [email protected].
Source: CRA
Newsletters
e-Newsletter – January 2018
NewslettersEvents & SponsorshipArticles & Publications
Events & Sponsorship
No Results Found
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
Articles & Publications
Moving to the U.S. for more affordable Real Estate
Moving to the U.S. for more affordable Real Estate? Home prices have run-up in the U.S. but are mostly more affordable than major Canadian markets. Like many real estate markets worldwide, U.S. home prices have run up during the pandemic to the point of some saying...
New Goods and Services/Harmonized Sales Tax Rules
This article intends to illustrate how the new proposed Goods and Services/Harmonized Sales Tax (GST/HST) rules are to apply to the sale of goods made on July 1, 2021, or later, by a retailer that is a non-resident of Canada and not registered for GST/HST purposes,...
When withdrawing funds early from your RRSP makes sense
Most Canadians spend their working lives socking away as much money as they can in their registered retirement savings plans (RRSPs) — often feeling guilty if they’re not maxing out the contribution limits set by the federal government. Once retirement rolls around,...
Understanding the CRA Notice of Assessment
Understanding the CRA Notice of Assessment How to object if you think the CRA is wrong Most of us have received our Notice of Assessment from the CRA for our 2020 tax returns. Mostly it is pretty much as you expected – a refund or no balance owing. But sometimes, the...
A Guide to Bank Reconciliations
One of the most overlooked steps in the accounting process is completing a bank reconciliation. We'll take you step-by-step through the process of completing bank reconciliations for your business. In this day of electronic banking, many people believe completing a...