On 20 August 2020, the Victorian Government made a number of announcements pertinent to commercial property owners and landlords.
The announcements included:
- Evictions will continue to be banned until 31 December 2020, except in specific circumstances
- Rental increases will continue to be banned until 31 December 2020
- The Victorian Small Business Commission will now have greater powers to make an order on rent relief if a landlord refuses to respond to rent relief requests.
- The Commercial Landlord Hardship Fund has been created in recognition of small, private landlords who may not have the capacity to provide rent reductions to their tenants under the requirements of the Commercial Tenancy Relief Scheme. Each grant amount will be equal to the amount of the rent waiver provided to the tenant, up to $3,000 per eligible tenancy. The fund is now open for online applications here: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/commercial-landlord-hardship-fund
- Further land tax relief will be available for landlords and business owners including an increased 50% waiver of the property’s 2020 land tax for Landlords who provide rent relief or where their property is vacant and a 25% waiver for owner occupiers. Applicants will need to reapply for this additional waiver through their My Land Tax portal accounts when applications open at a date yet to be advised. Further information is available here: https://www.sro.vic.gov.au/coronavirus#land-tax-reduction-increase
Applications for increased land tax relief are now open via the My Land Tax portal.
GormanKelly is here to guide and support you and your tenants through this challenging period. If you have any queries in relation to the above please contact us.