CRA indicates that government assistance did not reduce interest payments for CERS purposes

CRA indicated that government assistance related to interest paid on a debt obligation secured by a mortgage on a qualifying property would not reduce the amount of interest paid on the debt obligation for purposes of s. 125.7(1)(b)(i) of the definition “qualifying rent expense” for purposes of the Canada emergency rent subsidy ("CERS") rules.

Neal Armstrong. Summary of 23 December 2022 Internal T.I. 2021-0880421I7 F under s. 125.7(1) – qualifying rent expense - (b)(i).