Grant Support For Small Landlords- Commercial Landlord Hardship Fund 3

To assist the small landlords facing financial distress due to coronavirus lockdown, the Victorian Government has announced grant support, i.e. The Commercial Landlord Hardship Fund 3. It is focused on providing grants to eligible small landlords who experienced hardship after waiving rent for their tenants from 28 July 2021 to 15 January 2022 under the Commercial Tenancy Relief Scheme.

To receive the support, landlords must have agreed on a rent waiver or non-payment of at least 50 percent of the agreed rent relief. You have to file a separate application for each tenancy you own if the total taxable landholdings are under $3 million.

Who Can Apply- Eligibility Criteria

  • Landlords with total taxable landholdings of less than $3 million
  • Should be able to confirm property ownership by Customer Number shown on the State Revenue Office Land Tax Assessment Notice
  • Must be the landlord of property subject to a Commercial Tenancy Relief Scheme
  • Must attest that commercial rent represents more than 50 per cent of their total gross income for the 2019-20 financial year

What Is the Grant Support Available?

Eligible small landlords can apply for a grant of up to $6000 per eligible tenancy. In case, you want to apply for a grant of up to $10,000, the condition is that you must have waived more than $6000 in rent between 28 July 2021 and 15 January 2022.

The grant amount will be equal to the amount of rent waived per eligible tenancy, up to $6000.

In cases. where landlords are experiencing acute hardship, the grant may be increased to a maximum of $10,000 per eligible tenancy.

Closing Date Of Registration

 The last date to apply for Commercial Landlord Hardship Fund 3 program is 15 Jan 2022 or when funds are exhausted, whichever is earlier.

How To Apply?

 It’s better to leave the application process on the experts rather than doing it yourself. Contact our tax accountants at KPG Taxation to help you in the filing process. We ensure accuracy and precision in every application we file.

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