Prolonged lock-downs and other restrictions imposed on businesses in different parts of the country to prevent the spread of Coronavirus have made it very difficult for tenants to fulfil their rent obligations. The Australian government recognises this problem and has initiated grants to provide rent assistance to commercial enterprises. You can benefit from these schemes if you are running a commercial enterprise on state land.
State Land Rent Relief- Covid-19 Assistance Queensland
This is a scheme initiated by the Queensland government to provide relief to tenants running businesses on state land. Anyone running a commercial enterprise on state land and badly impacted by Coronavirus can apply and receive rent relief under this scheme. It is currently open and you can apply to get land rent relief.
- To receive rent waiver or deferral, your business must be situated in Queensland
- You must be a holder or a lease, license, or permit to run your business on state land
- The commercial enterprise should fall under any one of the 5 categories mentioned in the scheme
- You must be running a commercial enterprise on state land and badly impacted by Coronavirus
Tourism Lease and License Holder Assistance QLD
This is yet another scheme of rent waiver from Queensland government to provide relief to tourism businesses running on state land and badly affected by Covid-19. The scheme is strictly for tourism businesses and gives them state land rent waiver to cope with the negative impacts of Coronavirus. This grant is currently open and you can apply any time of the year.
- You must be holding a lease or license of a state land for running a tourism business and receiving quarterly rental invoices
- You must be operating under the terms of the lease or license
- Your business must have suffered substantially because of lockdowns and restrictions imposed by the government on account of Covid-19
Covid-19 (Coronavirus) and Land Tax NSW
Under this scheme, the government of NSW is providing tax relief to landlords so that they can manage their rented properties impacted badly by the outbreak of Coronavirus. The scheme is currently open and eligible landlords can get up to 25% discount on their land tax on the parcel of land allotted to them.
- The parcel of land must be used for business purposes
- Land is leased to a tenant with annual turnover of up to $50 million and who can prove substantial financial distress on account of Covid-19
- The landlord agrees to reduce the rent of the tenant by at least the amount of land tax rebate he gets
- Tax levied is for the property that has been rented and for which rent is reduced
- Tenant’s financial distress is acknowledged if he can demonstrate a loss of at least 30% in annual turnover because of Covid-19
To know more about the above mentioned grants and similar ones, please speak to one of our advisors at the number mentioned below.