PHOTO: KEVIN STENT/STUFF Minister of Small Business Stuart Nash says landlords should provide rent relief by using the gains they will get from the Government bringing back depreciation of commercial buildings.
The Government has told commercial landlords to “step up now with rent relief” using the $2 billion they will gain from the depreciation of commercial buildings.
Speaking at Parliament’s Epidemic Response select committee Minister of Small Business Stuart Nash said the reinstating of tax depreciation on commercial and industrial buildings would put an estimated $2 billion into the pockets of commercial and industrial landlords.
“This is a compelling reason for them to step up now with rent relief,” Nash said.
Reserve Bank proposes to remove LVR restrictions
Last week the Government surprised the huge commercial property sector by rejecting an up to $1.1b proposal from the Property Council for a three month rent subsidy and other measures to support landlords and tenants.
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