The Victorian Minister for Small Business, Jaala Pulford, announced via her Facebook page on 11 December that the Commercial Tenancy Relief Scheme will be extended to 28 March 2021 noting:
“So many small businesses have done an amazing job to get through a tough year – and they’re looking to a strong recovery and a very different 2021.
We’ve been proud to stand with businesses and our support does not end with the closing of 2020.
The existing Commercial Tenancy Relief Scheme will be extended to provide support for small businesses that need it – to 28 March 2021 and in line with the Mandatory Code agreed by National Cabinet.
That means freezes on rent increases and bans on evictions for eligible small businesses that have requested rent relief will continue until that date.
Commercial landlords are required to provide rent relief in proportion to the tenant’s fall in turnover while the Victorian Small Business Commission is on hand to provide free mediation to resolve disputes.
Support for landlords will also be extended.
Commercial tenants and landlords can get more information at vsbc.vic.gov.au”
For more information regarding the CTRS, we refer you to our previous blog posts:
- COVID-19 and Commercial Leasing and Implications
- Code of Conduct Brings Relief for Commercial Tenants
If you have any queries, please contact your Morrows Advisor or Adam Neylon (03 9134 3543) of Morrows Legal.
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