The state government has extended its land tax relief scheme to eligible landlords until the end of September, the treasurer has announced today.
The scheme provides eligible landlords up to 25% reductions on land tax liabilities, provided they pass on the savings in rent reductions to their residential or small-medium enterprise tenants.
South Australian treasurer Rob Lucas said the scheme was introduced to support the work already undertaken by landlords with their tenants to navigate difficulties posed by COVID-19 restrictions.
A statement released by the Treasurer on Thursday indicated the state government’s willingness to “ensure as many local landlords as possible were able to be supported.”
“This initiative – part of our $1 billion in economic stimulus – is a powerful shot in the arm for local businesses and residential tenants who have suffered a significant downturn in trade and income as a result of COVID-19 and the necessary restrictions imposed to help limit its spread,” said Mr Lucas.
“By helping landlords, we help their tenants – and, in turn, ensure we sustain as many local jobs as possible throughout the greatest economic challenge of our time.
“Rent can be one of the biggest fixed costs for a small business or residential tenant and this scheme complements the work of many landlords who have been collaborating with their tenants and financial institutions to find an effective way through this period.”
Applications and eligibility requirements can be found at www.revenuesa.sa.gov.au/ltcovid19relief