Covid-19 Client Update 3

We refer to our previous advice (COVID-19 Government Assistance) in respect of

  • JobKeeper support
  • $250k loans

The third important section for SME relief is the position with Commercial Leasing (not residential).

Attached is the National Cabinet Mandatory Code of Conduct which in summary provides for

  1. The same turnover hardship assessment done for JobKeeper support applies to the rent reduction. 
  1. By way of example, if the turnover hardship assessment is calculated at 40%, the landlord will be obligated to provide a minimum of

            i) 50% of that amount as permanent rent reduction.
            ii) The balance of 50% is rental deferral to be recouped over at least 24 months.

Please read the document carefully.  You must negotiate fairly and openly with proper documentation which we can assist with.  One of the fundamental leasing principles is (Clause 1) Landlords must not terminate leases during the pandemic period for non-payment of rent.

If the rental is a very significant cost and you sense you have an uncooperative landlord, it will be wise to include your lawyer in this matter.

Regards
Richard Hill

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COVID-19 Client Update 4

We refer to our previous advice in respect of Cash boost JobKeeper support $250k loans Landlord negotiation We have identified your business as one where there will be significant financial and statutory assistance were available as a result of the Government...

read more

COVID-19 Government Assistance

There will be significant financial and statutory assistance where available for our clients as a result of the recent Government initiatives.  They are:   PAYG Refund   Commencing with 31st March BAS, there is available a full refund of all PAYG instalments...

read more

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66 Hunter Street,
Sydney, NSW, 2000

GPO Box 104,
Sydney, NSW, 2001

T: +61 2 9200 4500

E: admin@dfkrichardhill.com.au

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