Following the announcement of an extension to the Commercial Tenancy Relief Scheme (CTRS) until 31 December 2020 (pending legislation), the Victorian Government has launched the Commercial Landlord Hardship Fund.
This new fund provides grants of up to $3000 to small, private landlords who may not have the capacity to provide rent reductions to their tenants under the requirements of the CTRS. Each grant amount will be equal to the amount of the rent waiver provided to the tenant up to $3,000. A rent waiver is where the rent or part of the rent owed for an agreed period of time is never repaid.
The Victorian Government is offering a range of other support for businesses, landlords and tenants who have been impacted by coronavirus (COVID-19), details of which are available on Business Victoria‘s business support page.
Information on additional land tax relief for landlords can be found at the State Revenue Office Land Tax Relief page.