. World News – CA – Canada Emergency Rent Subsidy Dec.. November

The government is taking targeted measures to support Canadian and Canadian businesses, nonprofits and charities that continue to face uncertainties and economic challenges resulting from the COVID-19 pandemic.

Starting today, qualified organizations can apply directly to the Canada Revenue Agency (CRA) for the new Canada Emergency Rent Subsidy (CERS). . This means that qualified organizations can apply for the grant without the assistance of their landlords. Applicants can apply for the grant retrospectively for the period ending on 27. September began and on 24. October 2020 ended.

CERS supports tenants and owners of qualified organizations affected by COVID-19 directly with up to 65 percent of the eligible expenses. Eligible costs include commercial rent, property taxes (including school and community taxes), property insurance, and commercial mortgage interest (subject to restrictions) for a qualifying property less any sub-lease income. Every sales tax (e. G. , GST / HST) component of this cost would not be an eligible expense.

Qualified Organizations that are on lockdown and have to close their doors or significantly restrict their activities under a public health regulation may be eligible for additional lockdown assistance equal to 25 percent of the eligible expenses.

In response to stakeholder concerns about the program, the government is proposing to amend the CERS to allow applicants to include eligible expenses in their CERS application before the expenses are paid. This means that when submitting their CERS applications, organizations can take into account rent and other eligible amounts already paid for an application period, as well as amounts payable for the application period. Amounts not paid at the time of application must be paid no later than 60 days after the grant has been paid.

To be eligible, organizations must be individuals, taxable companies and trusts, nonprofits, or registered charities. Public institutions are usually not eligible. Authorized entities also include the following groups:

Qualified organizations can apply for CERS via the CRA’s My Business Account or represent a customer. Visit the CRA Registration Services to register.

As part of the application process, qualified organizations must register in My Business Account or represent a customer for a new Business Number Program Account ID that will be used specifically for the CERS program. This can be done online and only takes a few minutes. Companies are also required to provide specific information and certify that they meet the eligibility criteria for the program.

The CRA has launched CERS websites including an online calculator to help qualified organizations prepare their applications. Businesses are encouraged to use the CERS calculator, which will walk applicants through a step-by-step calculation of the CERS and help them determine the amount of subsidy they can claim based on the information they put into the calculator. Applicants using the CERS calculator can use the printable statement feature to provide the necessary information in their application so that they can submit their application quickly and easily.

The rating agency collects applications and optimizes our automated review process based on the information gathered about the applications received. In this way, the rating agency can on 30. November process applications through our automated verification system and start paying within 3-5 working days. Qualified organizations can therefore apply at a time that is convenient for them in the coming week.

Qualifying organizations are also encouraged to register for direct deposit as it is the fastest way to receive CERS grant payments. Organizations that are not registered for direct deposit should allow additional time for their check to be mailed.

The rating agency recognizes that many companies, nonprofits and charities have been severely affected by the COVID-19 pandemic and it is important that CERS payments are made as soon as possible. To this end, the rating agency has developed validation processes that allow many claims to be paid without manual intervention and to ensure that information verification interventions are carried out quickly and with minimal administrative effort.

To ensure that payments can be issued as quickly as possible, the credit rating agency processes claims through an automated verification system that compares applicants’ information with information already stored.

In situations where the credit rating agency has not provided information on applicants, or where there is insufficient information to review an application, we may contact applicants to request additional information, such as:. B.. Rental agreements. In addition, we may need to contact third parties to validate information such as mortgage payments. We encourage organizations in this situation to promptly provide any additional information we request as this will help expedite the processing of the claim. A list of the types of documents we may request can be found on the CERS websites.

Rental, Canada Revenue Agency, Subsid