With lockdowns continuing, it is crucial that impacted individuals and businesses keep track of their eligibility for the various State and Federal grants available. One very tailored and targeted Victorian State grant is the Commercial Landlord Hardship Fund which is now open for applications.
This grant will only be available to a very specific eligible individual who: –
- Is an Australian resident or entity which owns property;
- Has total taxable property holdings below $3 million;
- Has provided a 50% or greater waiver of ren to a commercial tenant;
- The rent relief was provided according to the regulations of the Commercial Tenancy Relief Scheme;
- The owner of the properties received more than 50% of their gross total income from renting these properties.
For those eligible, a grant of $6,000 is available with that amount increasing to $10,000 for those experiencing acute hardship. This is only available for those who receive 70% or more in income from their gross passive rental income in the 2020 year and there is no related party relationship between the landlord and the tenant.
Applications close on 15 January 2022 or when funds are fully allocated. If you would like more information, please do not hesitate to contact us.