Landlords providing tenants impacted by COVID-19 with relief will be eligible for a 25 per cent discount on their land tax, while any remaining land tax can be deferred until March 2021.
The Victorian government said it will establish a new Coronavirus Relief Deputy Commissioner at the State Revenue Office to manage the land tax relief claims.
The move comes as New South Wales made a similar move to provide 25 per cent in land tax relief for landlords earlier this week.
Further, in line with the agreement from the national cabinet to implement a mandatory code of conduct for commercial tenancies, the Victorian government said it will seek to pass legislation enabling eligible small and medium-sized business to be granted rental waivers or deferrals.
As well as the $420 million land tax relief measure, the Victorian government has announced a fast-tracked dispute resolution service for tenants and landlords who struggle to strike a deal over rent reductions, with mediation to be run by either Consumer Affairs Victoria or the Victorian Small Business Commission.
Evictions will also be banned in Victoria for residential tenancies for six months for most circumstances, while evictions will also be banned for six months for the non-payment of rent for commercial tenancies involving small and medium-sized businesses.
In addition, rental increases will also be banned for commercial and residential properties for six months.
As well as land tax relief for landlords, other measures include rent relief for tenants experiencing financial hardship, introducing a temporary ban on evictions and pausing rental increases for six months.
“More than ever, we need to be working in partnership. Landlords working with tenants. Tenants working with landlords. And government willing to help those most in need,” Victorian Premier Daniel Andrews said.
