Landlords and tenants in South Australia who have been impacted by COVID-19 will be glad to hear that the land tax relief scheme has been extended until the end of September.
The South Australian Government yesterday announced a two-month extension to the program which enables eligible landlords to receive a 25% land tax reduction, so long as the discount is passed onto the affected tenants.
After applications for the relief ramped up in recent weeks, SA Treasurer Rob Lucas said that the extension would enable more applicants struggling with financial uncertainty to receive support.
“This initiative – part of our $1 billion in economic stimulus – is a powerful shot in the arm for local businesses and residential tenants who have suffered a significant downturn in trade and income as a result of COVID-19 and the necessary restrictions imposed to help limit its spread,” he said.
By helping landlords, we help their tenants – and, in turn, ensure we sustain as many local jobs as possible throughout the greatest economic challenge of our time.Rob Lucas – SA Treasurer
Impacted tenants who may be eligible to receive the land tax reduction include gyms, clothing retailers, medical and dental practices, motels and hotels, restaurants, cafes, beauty salons and hairdressers.
“Rent can be one of the biggest fixed costs for a small business or residential tenant and this scheme complements the work of many landlords who have been collaborating with their tenants and financial institutions to find an effective way through this period,” said Mr Lucas.