The Victorian Government is set to re-introduce the Commercial Tenancy Rent Relief Scheme (‘Scheme‘) to eligible small and medium sized businesses which is set to apply from today (28 July 2021).

Similar to previous legislation implemented, the Scheme will be available to tenants with an annual turnover less than $50 million and have shown a 30% downturn in trade due to the coronavirus.

Landlords must also provide rent relief proportionate to the tenant’s downturn in trade compared to pre-pandemic levels, at least half of which is by way of waiver and the remainder deferred. For example, a business with a turnover of 40 per cent of pre-pandemic levels can only be charged 40 per cent of its rent.

A copy of the Victorian Government’s press release is available here: