Businesses Will ‘Soon’ Be Able to Transfer Rental Under the New Canada Program

Canada is implementing a new Covid-19 aid to grant rentals to businesses without being responsible for the tenants to request such assistance.

Finance Minister Chrystia Freeland’s office is talking to business leaders and provincial authorities about the next steps, Katherine Cuplinskas, spokeswoman for Ms. Freeland, said in an email without details. “We will release more information soon,” she said.

The government allowed a rental program support space, known as Canada’s Emergency Trade Assistance (CECRA), to expire last month. The plan was not strongly supported because it required the landlord to apply on behalf of the tenant and reduced the total rent by 25%.

This proposed new program will allow businesses to apply directly for rental assistance without having to rely on landlords to handle the process. The program has yet to be finalized and is still subject to change, according to a source.

Prime Minister Justin Trudeau’s government also has a separate program to provide salaries for businesses that have suffered a decline in revenue because of the Covid-19 pandemic; it near here was the family time for the summer year.

According to the source, the new program will be aimed at small and medium businesses. The old program was limited to companies with annual sales of up to $20 million and paying no more than $ 50,000 in space rent per location.

Small about 128,000 businesses have been supported by CECRA at a total cost of more than $1.8 billion as of October 4, according to Cuplinskas.

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