COVID-19 Assistance For Commercial Landlords

What support is available to landlords?

Commercial landlords that provide rent relief to eligible tenants will be entitled to land tax relief of equivalent value, up to a maximum of 100% of their land tax liability for 2021 on the relevant property. Landlords will receive a waiver on land tax if they are yet to pay, or a rebate of previously paid land tax.

Landlords that receive this tax concession will also be able to defer their remaining land tax payments for 3 months.

The recently announced Commercial Landlord Hardship Fund will provide additional support to smaller landlords whose main source of income is impacted because they have provided rent relief to their tenant, and have not claimed land tax relief under the various COVID-19 land tax relief programs.

Small commercial or retail landlords may be eligible for a monthly grant of up to $3,000 if they provide rental waivers.

Land Tax Relief

Land tax relief is available for eligible commercial and/or residential  landowners who have reduced  their tenants’ rent due to COVID-19, between 1 July 2021 and 31 December 2021.

The relief will be a reduction in the 2021 tax payable on the parcel of land where a rent reduction has been given to the tenant who occupies that land. 

The reduction in land tax payable will be the lesser of:

the amount of rent reduction provided to an eligible tenant for any period between 1 July 2021 and 31 December 2021, or

100 per cent of the land tax attributable to the parcel of land leased to that tenant.

Commercial landowners can still apply for this period of land tax relief, even if they applied for any of the previous relief periods, provided they meet all the eligibility requirements.

Hardship Fund

The Commercial Landlord Hardship Fund will provide additional support to smaller landlords whose main source of income is impacted because they have provided rent relief to their tenant and have not claimed land tax relief.

Small commercial or retail landlords may be eligible for a grant of up to $3,000 per month if they have provided rental waivers for their tenant(s).

Source:

https://www.service.nsw.gov.au/commercial-leases-and-covid-19-faqs https://www.service.nsw.gov.au/campaign/covid-19-help-businesses/covid-19-assistance-commercial-and-residential-landlords#small-commercial-or-retail-landlords