Continue to provide rent relief?
Commercial landlords who apply for the land tax relief must continue to provide rent relief that complies with the requirements of the Commercial Tenancy Relief Scheme – as explained in our previous Tax Alert.
We note that some guidelines were issued recently by the Small Business Commissioner which required that the reduction in turnover experienced by a commercial tenant be proportionately recognised in the rent relief offered by landlords. This principle is now likely to be legislated, which may give the Small Business Commissioner the power to enforce such legislation against Landlord's who refuse to acknowledge rent relief requests.
At this time, we have no specific detail in relation to how such an enforceable power may work in practice. As more detailed information becomes available, we will continue to provide further guidance.