Land tax relief for Victorian landlords
Landlords of residential and commercial properties who provide a 50% or more outright rent waiver of at least 3 months’ rent to eligible tenants can claim a 50% waiver of the property’s 2020 land tax and defer payment of the remaining tax to 31 March 2021.
Owner-occupiers of commercial properties can obtain a 25% waiver of the property’s 2020 land tax and payment of the remaining tax can be deferred to 31 March 2021.
Their business must meet the conditions in either of these two categories:
For a licensed pub, club or restaurant under a general, full club or on-premises liquor licence:
- at the premises level, annual turnover was no greater than $50 million in either the 2018-19 or 2019-20 financial year, and
- turnover at that premises has reduced by at least 30% since March 2020.
For other businesses:
- annual aggregated turnover was no greater than $50 million in either the 2018-19 or 2019-20 financial year, and
- they are eligible for, and participating in, the Australian Government’s JobKeeper Payment.
Applications for land tax relief are temporarily suspended while the system is updated with the additional relief measures announced by the Victorian Government.
Let’s stay connected. We can’t be in the office but we continue to be here for you. Our team are working safely and securely in their virtual office locations. Please email your service team member or call us on +61 3 9820 6400 for assistance and advice with regards to government economic support programs and other ways to manage your business through this challenging period.