Queensland Deputy Premier and Treasurer Jackie Trad says commercial and retail tenants “will be protected from evictions under a series of measures to protect businesses and jobs unveiled by the Palaszczuk Government”.
In a statement released earlier today, Thursday 9 April, Ms Trad said the measures would be underpinned by $400 million in land tax relief for property owners, which must be passed on to tenants.
“We’ve heard loud and clear the concerns of people worried about losing their home or business premises through no fault of their own, so we’ve been working hard to put protections in place to stop that happening,” Ms Trad said.
“Since February, we have announced more than $3 billion in measures to sustain businesses through the coronavirus downturn, but when it’s over, they need to know their shops and tenancies are still there.
“Whether they’ve been required to close their doors or not, many businesses have seen their cash flow dry up, making it harder to pay the rent.
“To ensure commercial or residential property owners don’t face undue hardship on their own, we will be offering a three-month rebate of land tax for 2019-20, followed by a three month deferral of land tax 2020-21 for property owners who agree to provide rent relief for tenants affected by the coronavirus downturn.”
A landowner can apply for land tax relief if they meet criteria including:
• the landowner rents all or part of a property to a tenant/s OR all or part of a property is currently available for lease; AND
• at least one tenant’s ability to pay their normal rent OR the landowner’s ability to secure a tenant is affected by the COVID-19 pandemic; AND
• the landowner provides rent relief to an affected tenant/s commensurate with the amount of the land tax rebate OR if the property is unable to be leased, the landowner requires land tax relief to meet their financial obligations (such as debt repayments); AND
• the landowner complies with new leasing requirements, even if the relevant lease is not regulated.
From next Tuesday (14 April) morning people will be able to apply for land tax relief, by going to qld.gov.au/landtax
