NSW Cashflow Boost

The NSW Government has announced new support for commercial tenants and landlords in response to the ongoing lockdown in NSW.

 

The information is available via this link: https://www.smallbusiness.nsw.gov.au/news/new-support-commercial-tenants-and-landlords.

 

Key points of note include the following:

• Rent relief will be mandated for eligible tenants

• Small commercial and retail landlords can access a monthly grant of up to $3,000 if they provide rental waivers

The Retail and Other Commercial Leases (COVID-19) Regulation 2021 will be extended until 13 January 2022

Landlords will be required to renegotiate rent and provide rent relief in proportion with their tenant’s decline in turnover

• The NSW Small Business Commission will provide additional staff to meet the demand for mediation

• Eligible commercial landowners are able to apply for relief on up to 100 per cent of their land tax liability for 2021

 

If you have any queries please do not hesitate to contact us.

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