On November 23, 2020, CRA released a new online calculator to assist eligible entities prepare to apply for the CERS and Lockdown Support.
The CERS calculator guides applicants through a step-by-step calculation of the CERS and Lockdown Support and determines the subsidy amount that can be claimed based on the information entered in the calculator.
The information required to complete the calculation includes:
Baseline revenue comparison option (i.e. year-over-year or average of January/February 2020);
Qualifying revenue for the relevant current year months and prior reference periods;
Lockdown start and end date (if eligible for the Lockdown Support);
Eligible expenses for the property.
Note that the calculator will automatically determine the daily amount for each eligible expense paid or payable in order to calculate the amount attributable to the 28-day claim period. Alternatively, the allocation of eligible expenses to the claim period can be done manually and entered in the calculator.
The CRA portal to apply for CERS and the Lockdown Support was also launched on November 23, 2020 and applications are being accepted for claim periods September 27, 2020 to October 24, 2020 and October 25, 2020 to November 21, 2020.
Applications can be made online using My Business Account or Represent a Client. A new CERS (ZA) number will have to be created before applying. Processing of the applications by CRA began on November 30, 2020 and payments are expected to be issued within 3-5 business days.
Applicants will have to complete and sign an attestation form – RC665 Canada Emergency Rent Subsidy Attestation form.
Similar to the CEWS, this attestation must be signed by the individual that has principal responsibility for the financial activities of the entity and retained in the event it is requested by CRA.
Please contact your Shimmerman Penn advisor for further guidance and to discuss your particular situation.
