Federal Supports Extended and Increased
Canada Emergency Rent Subsidy
The new Canada Emergency Rent Subsidy, which would provide direct and easy-to-access rent and mortgage interest support to tenants and property owners until June 2021 for qualifying organizations affected by COVID-19. The new rent subsidy would support businesses, charities, and non-profits that have suffered a revenue drop by providing support up to a maximum of 65 per cent of eligible expenses until December 19, 2020. The government is proposing to allow claims retroactively for the period that began September 27 and ended October 24, 2020.
Lockdown Support
The new Lockdown Support, which would provide an additional 25 per cent through the Canada Emergency Rent Subsidy for qualifying organizations that are subject to a lockdown and must shut their doors or significantly limit their activities under a public health order issued under the laws of Canada, a province or territory (including orders made by a municipality or regional health authority under one of those laws). Combined, this would mean that hard-hit businesses subject to a lockdown could receive rent support of up to 90 per cent.
Canada Emergency Wage Subsidy
The extension of the Canada Emergency Wage Subsidy until June 2021, which would continue to protect jobs by helping employers keep employees on the payroll and re-hire their workers. The wage subsidy would remain at the current rate of up to 65 per cent of eligible wages until December 19, 2020.
Ontario’s Long Term Strategy for Resilience & Recovery
Minister of Heritage, Sport, Tourism & Culture Lisa MacLeod announced Ontario’s resilience and recovery plan for her sector. This announcement recognized the importance of the various sectors noting Tourism contributes $36 billion dollars while Culture adds an additional $26.8 billion dollars to Ontario’s economy. Minister MacLeod made it abundantly clear that these industries are being hurt on multiple front while being the first to be shut down and likely the last to full re-open. As such, Ontario will engage long term in assisting the sector through 18 objectives.
