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By: Sian Sinclair
17 Sep 2020 2 min read
The measures, extended 6 months to April 2021, have also been expanded to allow eligible landlords to receive up to a 50% reduction on their 2019-20 land tax (up from 25%), with the proviso that they will pass on the full benefit of land tax relief to their tenants. The land tax relief measure has also been expanded to include commercial owner-occupiers.
The Marshall Government has stressed that landlords should still negotiate with affected tenants on a case by case basis, in good faith. The rent relief measures have the facility to be extended up to 28 March 2021, if required. Applications for the land tax relief scheme can be submitted here.
In addition to extending rent relief measures, the Marshall Government has also announced a $20 million Tourism Industry Development Fund. In an effort to encourage private investment in regional tourism infrastructure, private businesses can apply for grants between $20,000 and $500,000, with a maximum of 30% of the funding per project to come from the State Government.
Explore tax strategies to manage labour, fuel, import and cash flow pressures in construction.
From 1 July 2026, two significant changes take effect: Payday Super will require superannuation to be paid with every payroll run, and reforms to the superannuation guarantee charge framework will substantially increase the financial consequences of non-compliance. For real estate and construction businesses that rely heavily on contractors, the pressure to identify and manage super obligations correctly, and early, has never been greater.
For overseas property developers investing in Australia, early funding decisions can have a material impact on tax outcomes, deductibility and overall returns. Where debt, equity and related party funding are treated differently under Australian tax rules, the structure chosen at the outset matters.