Assistance for Commercial Landlords
Further support packages have been announced for Victorian businesses impacted by COVID.
Commercial Landlord Hardship Fund
In response to the reintroduction of the Commercial Tenancy Relief Scheme for tenants who are impacted by ongoing COVID shutdowns, the Victorian State Government has reintroduced the Commercial Landlord Hardship Fund to support landlords who provide rent relief to tenants.
To be eligible the landlord must:
- Have total taxable landholdings of less than $3m, excluding principal place of residence
- Have made a rent relief agreement with their tenant between 28th July 2021 and 15th January 2022
- Be an Australian citizen, resident or Australian entity
- Have the written consent of the tenant to provide business and contact details
- Attest that commercial rent represented more than 50% of their total gross annual income for the 2019/20 financial year
Applications close 15th January 2022 or earlier if funds are exhausted.
Land Tax Relief
The Victorian Government has also announced land tax relief of up to 25% for commercial landlords who have provided rent relief.
Whilst full details are not yet available it is likely to be similar to schemes from previous years.
For more information
Please email: email@example.com and we will be in touch, alternatively, contact your Accountant directly.