Are you a party to a commercial lease signed between 1 January 1992 and 30 June 2009 ……..if so, you need to read on!!!!!
Recent changes to the law directly impact parties to commercial leases (other than leases subject to The Retail Shop Leases Act) that were entered into after 1 January 1992 and before 30 June 2009 irrespective of what the terms of the document state.
Where such leases include the Land Tax as an Outgoing that is payable by the Tenant, Tenants are no longer required to make such payments. And this requirement has been backdated to 30 June 2010.
If a Tenant has already paid an amount for Land Tax under such a Lease, such amount is not recoverable by the Tenant however any outstanding amounts cannot be recovered or demanded by the Landlord.
If you are a Tenant or Landlord under an existing commercial lease that was entered into between the above dates (this includes any extensions, renewals or assignments) you could be directly affected by the changes and should seek legal advice urgently by calling 1300 768 719.