1/5 The government has (finally) introduced a revised business rent relief program, available until June 2021. If revenue has declined by 70%+, you may apply for 65% of rent or mortgage interest payments; [more...]
#calgarycentre #cdnpoli #canpoli #smallbusiness
#calgarycentre #cdnpoli #canpoli #smallbusiness
2/5: ... if revenue has fallen by less than 70% there is “a gradually decreasing level of support”. Businesses forced to shut down by mandatory order qualify for up to 90% of rent or mortgage interest payments. Tenants apply directly, without going through their landlord.
3/5: While this is good news, there are several questions:
1. Conservatives and business groups have said for five months that the design of the previous program (CECRA) was flawed. Why did it take five months to hear the message?
1. Conservatives and business groups have said for five months that the design of the previous program (CECRA) was flawed. Why did it take five months to hear the message?
4/5: 2. CECRA expired in Sept. Liberals prorogued Parliament for 6 weeks to "plan ahead", yet didn't announce revisions before the old program ended, leaving many businesses in planning limbo.
3. This doesn't retroactively help businesses that didn't qualify for CECRA [more ...]
3. This doesn't retroactively help businesses that didn't qualify for CECRA [more ...]
5/5: Those businesses may be competing directly against businesses that did qualify because they had landlords who cooperated. The government created an uneven playing field for five months depending on who your landlord was: those businesses are still starting from behind today.
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