Yesterday the NSW Government announced that the Retail and Other Commercial Leases (COVID - 19) Regulation that was set to expire on 25 October 2020, will now be extended to 31 December 2020, with other states also extending measures to continue the operation of the National Code of Conduct.
Eligible landlords that reduce the rent of eligible commercial and residential tenants between 1 October 2020 and 31 December 2020 can apply for a land tax concession on relevant properties.
This new concession is in addition to the concession provided to landlords that reduced rent between April and September. The concession will be applied to any unpaid 2020 land tax liability, and refunds will be issued for payments already made this year.
Click here to see the release
All applicants who have previously applied for a concession will need to reapply with supporting documentation for the additional concession period.
Applications for the additional land tax concession for rental reductions between 1 October 2020 and 31 December 2020 will be made available through the SNSW website shortly.
For further information please go our 2020 land tax COVID-19 relief – Guidelines Page here