Highlights
- Victoria and NSW governments announced tenant and landlord relief packages
- No tenant can be evicted for 6 months
- Landlords will be helped by land tax reduction if they support their tenants.
NSW's $440 million worth package aims to help tenants who have lost 25 per cent of their income and those businesses who can demonstrate revenue loss of a minimum of 30 per cent due to coronavirus pandemic.
The Victorian government's relief package worth $500 million encourages landlords to provide relief to their tenants.
'To encourage landlords to do the right thing by their tenants, the Government will provide $420 million in land tax relief,' Victorian Premier Daniel Andrews announced on Wednesday.
New South Wales Treasurer Dominic Perottet said landlords would be offered waivers or rebates of up to 25 per cent on their land tax payments, as long as they pass it on to their tenants.
"So today's announcement will provide a 25 per cent rebate or waiver for landlords who pass on an equivalent amount of rental relief for their tenants. We will also be deferring land tax for the next three months for those who are yet to pay their land tax bill," Treasurer Perottet said.
The Victorian government will bring urgent legislation to reform residential and commercial tenancy laws.
This legislation will include a temporary ban on evictions, pausing rental increases for six months, and providing land tax relief for landlords and rent relief for tenants experiencing financial hardship.
Amit Singh Jadoon, Director of a Melbourne-based property management firm told SBS Hindi, "Tenants and landlords who struggle to strike a deal over rent reductions will be given access to a fast-tracked dispute resolution service, with Consumer Affairs Victoria or the Victorian Small Business Commission mediating to ensure fair agreements are reached."
He says the Victorian government will provide $420 million in land tax relief for landlords and an $80 million rental assistance fund for renters facing hardship due to the coronavirus pandemic.
Consumer Affairs Victoria has notified on its website that if a landlord provides tenants impacted by coronavirus with rent relief, they will be eligible for a 25 per cent discount on their land tax, while any remaining land tax can be deferred until March 2021.
However to avail the rent assistance, renters will need to register their revised agreement with Consumer Affairs Victoria, they also need to have less than $5,000 in savings and still be paying at least 30 per cent of their income in rent.
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