Federal Government Announces CERS Rate Structure Freeze
1 min read
Canadians across the country can now let out a sigh of relief after the federal government’s recent announcement regarding the Canada Emergency Rent Subsidy (CERS). Finance Minister Chrystia Freeland has confirmed that the current rate structure will remain the same until June 5th, after consideration to adjust the funding levels after March 13th.
It is estimated that upwards of 100,000 organizations have tapped into this program, totalling $1.6 billion thus far in relief for various business expenses. “Workers and businesses have shown incredible resilience over the past year, especially through this difficult winter,” Freeland stated. “With variants in Canada and many regions still under lockdown, we are giving workers and businesses the certainty they need.”
The subsidy offers two levels of support depending on where businesses are located and if they have been affected further by public health measures. Up to 65 percent of fixed property costs are subsidized under the program, with some businesses qualifying for an additional 25 percent. It is projected that program costs will reach over $2 billion by the end of the term.
Learn more about this announcement.
Reference
CERS rate structure holds steady until June 5 - REMI Network. (2021, March 03). Retrieved March 05, 2021, from https://www.reminetwork.com/articles/cers-rate-structure-holds-steady-until-june-5/
About Westhaven Group
WHERE INTEGRITY AND RELIABILITY MEET.
Westhaven Group oversees a collection of companies involved in managing and trading over 600,000 square feet of real estate across the City of Toronto and surrounding areas.
With multiple years of experience in the industry, our team works within residential and commercial spaces ensuring every aspect of real estate investment is covered.
Westhaven Group is a go-to source for all of your company needs.