It is proposed that the Land Tax and Taxation Administration Amendment Bill 2009 (Qld) be enacted and to take effect from 30 June 2009.
If this Bill is enacted implications include:
1. Commercial leases entered into after 30 June 2009 – Landlord can recover Land Tax as outgoing.
2. Pre-existing leases – Land Tax is not recoverable by landlord (even if the lease is renewed or assigned after 30 June 2009).
3. Retail Shop Leases & residential leases – not affected by this – landlord cannot pass on Land Tax liability to the tenant.
Rationale – this brings the Queensland Act in line with the other States & affords some protection to landlords against unexpected hikes in land tax.
Need help with a Commercial Lease or a Retail Shop Lease in Queensland? Contact Dave Cheng.
{ 2 comments… read them below or add one }
I am leasing space at around 4800 /month. The practice closed in Feb 2010, but I still continued to pay the full rent. At the moment, I am financially very much stuck. I have tried paying the rent to the owner to the best of my efforts, but at this stage, I cannot afford to pay him any more rent. I have requested him to break the rent in small payments, but he is not agreeing to that. I have got assets, and I am trying to sell them, but in today’s market, nothing is selling. I am willing to pay him in full, once any of my assets sell.
I assume that the Landlord and you have been actively trying to re-lease the property. Landlords generally have a legal duty to mitigate thier loss by seeking another tenant.
I note you have spoken to our Client Services Manager. Let us know if our Leasing/Property Lawyers can be of any help.