On November 2, 2020, Deputy Prime Minister and Minister of Finance Chrystia Freeland introduced Bill C-9, An Act to Amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy), in the House of Commons. Bill C-9, if enacted, would implement amendments to the Income Tax Act (Canada) to, inter alia, (i) extend the Canada Emergency Wage Subsidy ("CEWS") until June 30, 2020, and (ii) implement the Canada Emergency Rent Subsidy ("CERS"). The CERS would be available to qualifying businesses, charities, and non-profits until June 30, 2020 to subsidize a percentage of certain rent expenses incurred in the course of ordinary activities, with a top-up CERS amount available to qualifying organizations under lockdown by a public health order. Bill C-9 would also implement amendments to the CEWS announced in October 2020 and certain other changes. Technical backgrounders with additional details on the CERS and CEWS amendments are anticipated to be released.
The Government's news release in respect of Bill C-9 is here. The text of Bill C-9 is here.
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