On Monday, Prime Minister Justin Trudeau announced a one-month extension to the Canada Emergency Commercial Rent Assistance program. The program, which initially was scheduled to end in June, offers loans to commercial property owners with the intent that they use the money to help tenants struggling to pay rent.
To be successful, the program requires cooperation between landlords and their tenants. The Chamber is encouraged by the many property owners who are working with their customers to ensure they make it through this crisis. We will all be in better shape if we can quickly restart businesses and get our economy back up to speed as soon as possible.
June 30 also marks the end of the deferral period for GST payments, announced on March 27. If not paid, interest will begin accruing as of July 1.