The NSW Government announced in its budget on 17 November 2020 that it will allow an extension of the Retail and Other Commercial Leases (COVID-19) Regulation 2020 from 31 December 2020 to 28 March 2021.
The extension will be applicable to retail tenants with an annual turnover of $5 million and provided the retail tenant has experienced a minimum decline in turnover of 30% during the December 2020 quarter.
Further details of the extension have not been released at the date of publication but further information can also be found from the website of the Small Business Commissioner here.
If you’d like more information about any of the information contained in this article you can get in contact via email firstname.lastname@example.org or contact Principal Lawyer, Emilia Cardillo on 0414 964 205.
The information contained in this article is general advice only and you should obtain legal advice specific advice to your circumstances.