The incoming Chief Executive Officer of the Australian Retailers Association, Paul Zahra, welcomed the NSW government’s $440 million land tax relief package, saying the scheme provided “major rent relief” for retailers suffering from the impact of the Coronavirus.
Mr Zahra said the package, announced by Treasurer Damien Perrottet and Finance and Small Business Minister Damien Tudehope, would ease cash flow concerns for businesses with a turnover below $50 million which had endured a reduction in turnover of at least 30% due to the crisis.
“The NSW government has acted decisively to give effect to principles established in the ³Ô¹ÏÍøÕ¾ Cabinet’s retail leasing Code of Conduct,” Mr Zahra said.
“This package provides not only significant tax concessions for landlords but also a clear framework for negotiations and access to mediation services. In all, it gives landlords and retailers comfort to begin to negotiate constructively and in good faith on a fair deal for both parties,” Mr Zahra said.
“We look forward to similar actions by other statement and territory governments to support the many people employed in small retail businesses around the country,” Mr Zahra concluded.
