
New tax relief measures for build-to-rent – what investors need to know
New Federal tax relief measures provide greater incentives for investment.
On 24 August 2021, the Commercial Tenancy Relief Scheme Regulations 2021 (Rent Relief Scheme) came into force. The Rent Relief Scheme imposes a requirement for commercial landlords to give eligible tenants rent relief that is in proportion to a fall in the tenant’s turnover because of COVID. The rent relief is to be by way of a minimum 50% rent waiver, with the balance by way of rent deferral. There is also a requirement for a landlord to consider waiving outgoings. The period during which rent relief can be claimed under the Rent Relief Scheme is from from 28 July 2021 to 15 January 2022.
The Rent Relief Scheme is similar in many respects to the previous rent relief scheme which applied in Victoria, but with some notable differences. The key provisions of the Rent Relief Scheme are:
The Regulations are long and complicated. If you require assistance in understanding your rights and obligations under your leases or licences, or assistance with the negotiation and drafting of appropriate rent relief arrangements, please contact a member of our Property Team.
Keep up to date with our legal insights and events
Sign upNew Federal tax relief measures provide greater incentives for investment.
There are stricter rules for foreign persons wanting to purchase residential property in Australia.
The primary focus is the protection of purchasers of buildings.
A recent VCAT case highlights the issues landlords need to consider in retail leasing.