What do we know?

The Victorian Government have announced that the business rent relief previously closing on 15th January 2022, will be extended further until 15th March 2022. This is great news for businesses struggling with omicron cases.

The Commercial Tenancy Relief Scheme will be extended until 15th March 2022.

Who is eligible?

There have been changes to eligibility requirements from the previous regulations that ended on 15 January 2022. The previous scheme supported small to medium commercial tenants with an annual turnover under $50 million and a demonstrated decline in turnover of at least 30% due to the impact of COVID-19.

For the January part to this, the turnover eligibility has dropped.

This Scheme will support small to medium commercial tenants with an annual turnover under $10 million and a demonstrated decline in turnover of at least 30% due to the impact of COVID-19.

Businesses that have been indirectly impacted by the COVID-19 pandemic, for example by lower demand or fewer customers, are also eligible, even if their operations were not closed due to restrictions.

How do I apply?

First you must request (this must be in written form) for rent relief to your landlord.

You then need to take this written request and the evidence that you supplied to your landlord, and use it to apply.

If you need legal advice, we suggest you do so.

Fill in your details and attached evidence to VSBC here.

Would you like us to take care of this for you?

If you would like us to apply for this for you, we are happy to do this for you. Please email us at assist@optimisedaccounting.com.au

What if I need help negotiating with my landlord?

If you and your landlord are struggling to reach an agreement, the VSBC are there to help. You can call them on 13 8722.

What if I am a landlord?

The Commercial Landlord Hardship Fund 3 will also have some new assistance, but what exactly we aren’t sure. More details will be out soon.

Where can I find out more information?

Questions about this scheme can be directed straight to VSBC (Victorian Small Business Commission) at 13 8722.

Business Victoria also has all the information you need – Business rent relief can be found here, and Landlord help can be found here.

Previous articles that we have written which includes eligibility for the previous round of this can be found here for businesses renting, and here for landlords.

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