The Victorian State Government has on 15 April 2020 announced some more commercial tenancy relief measures to assist Landlords and Tenants in resolving a response to COVID-19. In line with implementing National Cabinet’s Mandatory Code of Conduct (details of which can be found here) the Victorian government is encouraging Landlords and Tenants to resolve the economic impacts together and vary their Lease in a manner which works for each of them. To facilitate this, the government will grant Land Tax relief for Landlords who provide rent relief for Tenants – 25% discount on land tax for 2020 and a deferral of the balance until March 2021. Rent increases are also intended to be “paused” for 6 months.
The Press Release from the State Government can be found here.
Greater details will become clearer as legislation is released and we will update everyone further once this is released.
The information contained in this article is intended to be of a general nature only and should not be relied upon as legal advice. Any legal matters should be discussed specifically with one of our lawyers.
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Andre is a Principal of Sharrock Pitman Legal.
He heads our Property Law Group and is an Accredited Specialist in Property Law (accredited by the Law Institute of Victoria). He also deals with Commercial Law. For further information, contact Andre Ong on his direct line (03) 8561 3317.