Further to our previous alerts, the Commercial Tenancy Relief Scheme is now extended to cover the period from 16 January 2022 to 15 March 2022.
Byline: Darren Marx
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The Victorian government has continued the Commercial Tenancy Rent Relief Scheme Regulations 2021 (the Regulations) by enacting new regulations to account for the extended lockdown experienced by commercial tenants in Victoria.
On 28 July 2021, the Commonwealth and Victorian Governments presented new recovery packages for small businesses. The new support packages will offer $400 million in support to small businesses to be funded equally between the Commonwealth and Victorian Governments.
The various Property-related tax measures announced in the Victorian State Government Budget will now become law.
The State Taxation and Mental Health Acts Amendment Bill 2021 (the Bill) has passed Victorian Parliament and is currently awaiting Royal Assent.
The Victorian State Government Budget, released on Thursday 20 May 2021, has produced a mixed bag of tax amendments that will affect many taxpayers who own property or are involved in property development.
The pandemic period has been an extreme burden on the hospitality industry. The Victorian Commission for Gambling and Liquor Regulation (VCGLR) in conjunction with the Victorian Government has, in addition to its previous leniency on certain liquor regulations, agreed to support licensees with the opportunity to extend their trading footprint by seeking a temporary licence to trade outdoors for the duration of the COVID-19 period.
Following the announcement made by Treasurer Tim Pallas on 20 August 2020, the Commercial Landlord Hardship Fund (Fund) has been created in recognition of small, private landlords who may not have the capacity to provide rent reductions to their tenants under the requirements of the Commercial Tenancy Relief Scheme (CTRS).
Today, Treasurer Tim Pallas announced that the Victorian Government will extend its moratorium on evictions and rental increases for both residential and commercial tenancies in Victoria until 31 December 2020. There will be some specific exceptions to this rule, the details of which are yet to be identified.
The Victorian Government recently announced a range of tax relief measures in response to COVID-19 to assist landlords and businesses. The State Revenue Office (SRO) has now provided further guidance on these initiatives.
On 1 May 2020 the Victorian Government passed regulations for the COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 (the Regulations) giving substance to the National Cabinet Mandatory Code of Conduct (the Code).