On 15 April 2020 the Victorian Government announced it will bring urgent legislation to the Parliament in line with decisions of the National Cabinet to support tenants and landlords through the coronavirus pandemic by reforming residential and commercial tenancy laws.
These measures includes:
- To encourage landlords to do the right thing by their tenants, the Government will provide $420 million in land tax relief. If a landlord provides tenants impacted by coronavirus with rent relief, they will be eligible for a 25 per cent discount on their land tax, while any remaining land tax can be deferred until March 2021.
- To provide much needed peace of mind and security, evictions will be banned for residential tenancies for six months, except in some circumstances.
- Evictions will also be banned for six months for the non-payment of rent for commercial tenancies involving small and medium-sized businesses.
- Rental increases will also be banned for commercial and residential properties for the same period.
- Consistent with the National Cabinet agreement to implement a mandatory code of conduct for commercial tenancies, the Government will also urgently legislate so that eligible small and medium sized businesses can be granted rental waivers or deferrals.
- Businesses are eligible for these measures if they have an annual turnover under $50 million per year and have experienced more than a 30 per cent reduction in turnover due to coronavirus.
We are here to help. We will continue to keep you updated on the latest stimulus measures and announcements. For more information, visit HLB Mann Judd’s COVID-19 Resource Centre to help you and your business in this challenging time.