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    3. 2020
    4. Commercial Tenancies Code with complementary relief

    States and Territories offer land tax relief

    15 Apr 2020

    Commercial Tenancies Code with complementary relief

    States and Territories respond to Commercial Tenancies Code with complementary relief

    Now that the Government’s measures regarding the protection of the rental system are becoming clearer and we have the release of the Commercial Tenancies Code as a guideline, we are now seeing the States announcing their approach to the promised ‘complementary relief’ in relation to land tax. 

    The common theme seems to be that relief is designed to assist landlords who are impacted by the requirement to provide rental waivers and deferrals where there has been an adverse impact due to COVID-19, although some measures do not require that connection. We are finding that these measures are a moving target as State and Territories announce their own measures, with Queensland and New South Wales making announcements over the Easter weekend and Victoria on 15 April.

    The measures are summarised in the table below, along with already announced measures which do not relate to the removal of the right to evict due to non-payment of rent. The table will be updated as and when further detail is announced, noting that details set out on the relevant revenue websites (and enabling legislation) tend to lag the Government announcements

    State/Territory

    Extent of waiver/reduction

    Extent of deferral

    Monetary threshold to obtain relief

    Available if not leased but available for rent

    Tenant/landlord must be impacted by COVID-19

    Required to pass on reduction to tenants or meet debt repayments

    Required to comply with new leasing requirements

    Multiple tenancies

    Commercial

    Residential

    Leniency/waiver of foreign surcharge

    Queensland

    3 months FY19/20

    3 months FY20/21

    No

    Yes

    Yes for waiver

    Yes for waiver

    Yes for waiver

    One tenancy must meet conditions

    Yes

    Yes

    Waived for FY19/20

    New South Wales

    25%

    3 months if pass on more than 25%

    Commercial – turnover <$50m with 30% reduction

    Residential – 25% income reduction

    No

    Yes

    Yes, pass on to tenants only

    Yes

    Detail unknown

    Yes

    Yes

    No

    Victoria

    N/A

    2020 land tax deferred to 31/3/21

    <$1m total taxable landholdings

    Yes

    No

    No

    No

    N/A

    Yes

    Only if at least 1 commercial landholding

    No

     

    25%

    Remainder land tax deferred to March 2021

    No

    Unknown

    Yes

    Yes, pass on to tenants only

    Yes

    Detail unknown

    Yes

    Yes

    No

    Western Australia

    25%

    Entry into a payment arrangement

    30% turnover reduction

    No

    Yes

    Yes for grant

    No

    Detail unknown

    Yes

    No

    No

     

    Lower of 4 weeks rent/$2,000

    Entry into a payment arrangement

    No

    No

    Yes

    Detail unknown

    Detail unknown

    Detail unknown

    No

    Yes

    No

    South Australia*

    25%

    6 months

    Commercial – turnover <$50m with 30% turnover reduction

    Residential – financial hardship

    Yes

    Yes for waiver

    Yes for waiver

    No

    Detail unknown

    Yes

    Yes

    N/A

    Tasmania

    FY20/21

    Discretionary for FY19/20

    No

    Yes

    Yes

    No

    No

    N/A

    Yes

    No

    No

    Australian Capital Territory

    Lower of 50% rental reduction/
    $1,300 per qtr

    No formal measure

    No

    No

    Yes

    At least 25% reduction

    No

    N/A

    N/A

    Yes

    N/A

    Other measures

    In addition to waivers and deferrals on land tax offered by the States and Territories, we are also seeing expansions to existing programs and measures.

    South Australia

    • The existing 2020-21 land tax Transition Fund relief will be increased from 50% to 100% for increases in land caused by the new aggregation rules between $2,500 and $102,500.
    • Cycle 2 of the Revaluation Initiative (values used for land tax and rates) is deferred to FY20/21.

    For more information, please contact:

    Sian Sinclair
    Sian Sinclair
    Partner & National Head of Real Estate &... Brisbane
    Email address https://au.linkedin.com/pub/sian-sinclair/14/9b0/9b5 Sian Sinclair VCard
    View full profile
    Steven Paterson
    Steven Paterson
    Partner Sydney
    Email address https://www.linkedin.com/in/stevenpaterson/ Steven Paterson VCard
    View full profile
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