Land Tax Relief for Landlords, Tenants and Commercial Owner-Occupier Businesses
Additional 25% Land Tax Relief
The South Australian Government announced further land tax relief for residential and non-residential landlords who have provided tenants impacted by Covid-19 with rent relief.
Residential and non-residential landlords now can receive a further 25% reduction on their 2019-20 land tax liability if as a result of Covid-19,
• They have been unable to secure a tenant in the relevant
period 31 October 2020 to 30 April 2021
• Rent forgone from an untenanted property is equal to or
greater than the value of land tax relief.
• They can demonstrate that rent relief has or will be provided to affected
tenants between 31 October 2020 and 30 April 2021.
A deferral of rent is not considered rent relief.
This relief also extends to commercial owner-occupier businesses who own the land in which they operate. The business will receive 2019-20 land tax liability relief of 25% provided they are eligible for the Federal Government's Jobkeeper 2.0 payment from 31 October 2020, and have annual turnover less than $50 million.
An application form and information summary of Land Tax Relief for both Residential and Non-Residential land and owner-occupier businesses will be released in the coming weeks.
Please contact us at any time to discuss
The Team at Gibson & Partners
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