rent-relief

Commercial Rent Relief

Written by: The Institute of Certified Bookkeepers

Earlier in the year The Government announced a range of measures to help tenants and landlords affected by COVID-19 for the period during which the Commonwealth JobKeeper program remains operational.

This included a temporary hold on evictions and a mandatory code of conduct for commercial tenancies to support small and medium sized enterprises.

For some states, extensions to these measures have now been introduced to assist landlords to negotiate in good faith with regard to the principles of the National Code. These measures are intended to expand the easing of financial hardship faced by tenants and landlords because of COVID-19.

You can find out how to access assistance through your relevant state or territory below.

Commercial Tenancy Relief Extended

Australian Capital Territory
An extension of the Commercial Tenancies Declaration was updated 10th September 2020. The new Declaration maintains the requirement for a landlord to engage in good faith negotiations with an impacted tenant before moving to terminate the lease or take other action against the tenant. The definition of an impacted tenant in the new Declaration reflects upcoming changes to the JobKeeper scheme that will be in effect from 28th September 2020. The new Declaration comes into effect on 28th September. It will stay in place until no later than 31st January 2021.
ACT – Commercial Tenancies

South Australia
Legislation has been introduced in South Australia to extend the COVID-19 Emergency Response Act 2020 to assist businesses affected by the COVID-19 pandemic. The legislation is due to be debated in the Legislative Council in the week commencing 21st September 2020. Briefly, the Regulations impose an obligation on parties to commercial leases to negotiate in good faith.
Subject to the successful passage of this legislation, the current regulations will be amended and extended to 3rd January 2021.
SA – Retail and Commercial Leases affected by COVID-19

Victoria
On the 20th August 2020 the Victorian Government announced plans for an extension to the Commercial Tenancy Relief Scheme (CTRS) until 31st December 2020. By extending this scheme negotiations for rent relief between a commercial tenant and their landlord must now consider this legislation and the revised extension date.
Victorian Commercial Landlord Hardship Fund has been created in recognition of small, private landlords who may not have the capacity to provide rent reductions to their tenants under the requirements of the Commercial Tenancy Relief Scheme. Applications for the fund opened on the 21st August 2020.

Western Australia
WA – Commercial tenancies – COVID-19 response
The Western Australian State Government has decided to extend the emergency period under the Commercial Tenancies (COVID-19 Response) Act 2020 (WA) until 28th March 2021. This means that the existing laws, including the moratorium on evictions, freeze on rent increases and code of conduct will apply until this date. In line with the Government’s modified JobKeeper program, the protections will be targeted to apply only to those tenants who experience financial hardship because of the COVID-19 pandemic.

If you enjoyed this article and would like to see others, then click on the link below.

Accountability BAS and Bookkeeping Services provide professional bookkeeping and BAS services to businesses in most Australian states.

What our clients say about us…

“I had the pleasure of being introduced to ABBS through Jo Bacon the WA representative. The professional service.  I have received has been so essential in assisting me with my new business, I am so grateful for the expertise, professionalism and excellent customer service I have experienced.” Marion B

“Thanks to Steve Cocks from ABBS we managed to get all the books up to date and in no time, … and that took the weight off my shoulders so I could focus on developing my business and moving forward in a more organized and structured way, keeping on top of things every month which makes life much easier.”  Elisabeth G

“As an ex-bookkeeper, I’m pretty fussy about how I like things done and I’ve found Caran from ABBS to be a pleasure to work with. She’s competent and efficient and now that I have her helping me with the bookkeeping for my business, I wouldn’t be without her.”  Sandy T

    “As a sole director of a regional law firm,  I’m very conscious of the need to have the proper business support, particularly in the areas of bookkeeping and trust accounting. Since I outsourced those components of my business to ABBS, I feel as if these vital components of my business are in expert hands and I can relax knowing that it is all being done properly , efficiently and legally.  Rob’s expertise with running a business including his insight with managing employees, his ready availability for a discussion at any time on any business matter, his advice and support, have been absolutely invaluable to CastleGate Law.  In addition, Janice from ABBS looks after my trust accounting through Leap with equal efficiency and expertise – she and Rob make a great team for any law firm.  Not only do I feel like I’m sharing the considerable burden of running a law firm, but I feel like in Rob I have someone on my side as a business owner, because of his implicit understanding of business matters, his encouragement and support. For all these reasons I cannot recommend ABBS highly enough as additions to any law firm or business partner. ”  Kate R

If you would like a brief chat or schedule an online meeting, then call me on:

1300 0 ABBS 0

(1300 022 270)

If you would like to get an instant quote:

To be able to provide you with a relatively accurate quote, we will need you to provide some core information that is used for this purpose only.

We suggest you have the bank statements or closely estimate the number of transactions on all business bank accounts and credit cards for the last three months.

2017 Queensland Bookkeeper of the Year Finalist
Registered BAS Agent
Xero Logo