Effectively giving SME’s some much needed breathing space, the Victorian Government Commercial Tenancy Relief Scheme (CTRS) has been extended until March 15, 2022.
Originally announced by Small Business Minister, Jaala Pulford last July, the Commercial Tenancy Relief Bill 2021 provides support to small and medium businesses.
The extended scheme is available to businesses with turnover of less than $10 million and who have also suffered a decline of at least 30 percent in turnover.
The Victorian Small Business Commission (VSBC) will continue to provide mediation support to tenants and landlords if parties cannot reach a satisfactory agreement.
Welcoming the decision, the Accommodation Association (AA) is now encouraging all states and territories to follow suit.
The association’s general manager advocacy and public policy, Bassel Tallal said the government’s decision effectively grants many accommodation providers the comfort and confidence to keep the lights on and the doors open while withstanding the challenges of the latest Omicron outbreak.
“With the unenviable combination of reduced consumer confidence, diminished foot traffic and staffing shortages, this extension is warmly welcomed,” he said.
“Small and medium accommodation providers can once again breathe easy with this extension and our members can now continue to focus on rebuilding their business and supporting their staff.
“The Accommodation Association believes the new regulations of this scheme represents the right balance as outlined by Minister Pulford.”
Mr Tallal said the association sincerely thanked the Victorian Government and Minister Pulford for extending the scheme, proactively consulting with industry and providing small and medium businesses with further relief and protection until mid-March.
Mike Parker-Brown is a UK-trained and qualified journalist and an award-winning travel communicator with more than 30 years experience.
Since 2002, Mike has worked as a freelance writer and PR consultant providing his services to major organisations in Australia and internationally in the tourism, aviation, hospitality, recruitment and export marketing sectors.
