The Victorian government
announced a $500 million plan for tenants and landlords across the state on
Under the package, $80 million
has been set aside for tenants in rental stress and a further $420 million will
be spent on land tax reductions for landlords of commercial or residential
Eligible tenants will receive up
to $2000 in relief payments under the scheme.
Tenants must prove they are in
rental distress – paying more than 30 per cent of their wage or entitlements on
rent, and must have less than $5000 in savings in the bank – while landlords
must prove they have struck an agreement with tenants to reduce the rent, and
for commercial landlords, a turnover of less than $50 million per year, to
qualify for land tax reductions.
They will be eligible for a 25
per cent discount on land tax, and the ability to defer payment of remaining
land tax to March 2021.
There would also be a ban on
evictions for the crisis period, but there will be exceptions which are yet to
be revealed. Rent hikes will also be banned.
state government this week announced it had delayed its rental reforms, some of which were due to come
into effect on July 1, until next year.
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Tuesday, 5 May 2020