A land tax relief scheme which supports landlords provide significant rent reductions for their residential and commercial SME tenants impacted by COVID-19 restrictions will be extended by two months, to the end of September.
Under the State Government scheme, eligible landlords can receive up to a 25% reduction on their 2019-20 land tax liability on affected properties, provided they pass on the full benefit in land tax relief to their impacted tenants.
Impacted tenants may include gyms, clothing retailers, medical and dental practices, motels and hotels, restaurants, cafes, beauty salons, and hairdressers.
Treasurer Rob Lucas said the Government wanted to ensure as many local landlords as possible were able to be supported, with a burgeoning number of applications received by Revenue SA in the past two weeks.
“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,” said Lucas.
Consistent with the experience of other states, applications to the scheme started relatively slowly when it opened nearly two months ago but have ramped up in recent weeks.
The extension also recognises the significant amount of other reporting arrangements that need to be completed around the end of the financial year, providing more time for landlords to submit their applications.