In response to the current situation, the Victorian government announced a series of measures to support landlords and tenants.
Specific measures include:
Extending the temporary ban on evictions and rent increases until December 31;
The government established the Commercial Landlord Difficulty Fund to provide small commercial landlords with a subsidy of A$3,000 per tenant;
The rent relief grant for eligible tenants is increased to $3,000;
The land tax reduction for eligible landlords has doubled from 25% to 50%;
25% reduction in the new land tax for owner-occupiers with annual income of A$50 million;
The government provided A$600,000 in funding to advocacy groups that protect vulnerable tenants;
To get this $3000 subsidy, apply for the official website, as follows: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/commercial-landlord-hardship-fund
The rent reduction grant is a one-time payment for residents who have reached a rent reduction agreement with the landlord. The government will pay your landlord directly, which is essentially considered a rent payment. If you have already received a grant of AUD 2,000 under the plan, you may be eligible for an additional AUD 1,000. The government stated that it will contact you to check if you are still eligible.
There is also the land tax policy: to become a qualified landlord with a discount, the rent of its tenants must be reduced.
The landlord must also give the tenant a rent reduction of 50% or more to qualify for the full 50% discount;
Commercial property owners can now also apply for a 25% land tax reduction;
If the income of bars, nightclubs, etc. has fallen by more than 30% since March, they are eligible;
If other owner-occupied companies receive JobKeeper payments, they are eligible;
For details, please consult the official website as follows:
https://www.sro.vic.gov.au/land-tax/claim-coronavirus-land-tax-relief
Treasury Secretary Tim Pallas said that expanding the ban will give worried tenants a certain sense of security. He said: “Make sure people have a place to live.”
The finance director said that additional support is being provided to landlords to help those who have lost rental income. This is also about ensuring that we achieve the right balance and provide the right choices and support to our tenants. “
