Ban on Evictions and Rental Increases Extension
The Victorian Government recently extended a ban on evictions and rental increases until the end of the year in response to the COVID-19 pandemic.
Evictions will continue to be banned for both residential and commercial tenancies until December 31, except in specific circumstances. Rental increases continue to be banned for the same period.
To get through the pandemic, the Government is encouraging Victorians to work together, and continue partnerships – with tenants, landlords, banks and government all working together to keep Victorians in their homes and businesses.
Additional measures will also be introduced, with commercial landlords required to provide rent relief in proportion with the fall in turnover being experienced by eligible tenants going forward. After ongoing engagement with small business, the Victorian Small Business Commission will also have greater capacity to make an order on rent relief if a landlord refuses to respond to rent relief requests.
Landlords will also be able to take advantage of more support, including an increased land tax discount – now up to 50 per cent – doubled from the earlier 25 per cent.
Eligible small businesses that own their own commercial premises will also now benefit from land tax relief.
Eligible residential tenants and landlords will be supported with up to $3,000 in rental payments as part of the Rental Relief Grant program, with new recipients able to apply for the full amount, and up to $1,000 extra available for previous recipients.
Please note: Trusts, Companies or Self-Managed Superannuation Fund landlords are not eligible for the Landlord Support Fund.
If you have any queries, please email: firstname.lastname@example.org or contact your Accountant directly via email and we will be in touch.
Patrick Rowan & Associates