Incentives to reduce rent for commercial tenants are an important addition to the measures protecting our economy. Land tax will effectively be eased by 25 per cent for landlords who reduce rents for small business tenants. Those who provide rent reduction equal to three months’ rent and a freeze on outgoings become eligible for a grant from the Small Business Development Corporation. The grants are equal to one quarter of the leased property’s land tax bill for 2019-20.
More than half of all Western Australian workers are employed by small businesses, and each one that endures through to the reopening of our economy will help to bolster our recovery. The package announced today will help to mitigate one of the most pressing costs on small businesses and delivers further measures that CCIWA has called for to bolster our economy.
This includes payments of $2,000 to assist construction businesses who are training and retaining apprentices during the crisis. It will cover around 70 per cent of current WA apprentices in the construction sector and builds on the Federal wage subsidies to help safeguard apprentices and traineeships currently in the pipeline. In addition to protecting those being trained right now, the WA economy will need a continuous supply of skilled workers to support our revival.
CCIWA directly called on the State Government to reallocate funding toward supporting business training and apprenticeships, a position informed by feedback from the WA business community. CCIWA welcomes the receptive approach of both levels of government to developing policy to address key concerns raised by business.
For more on the rent reduction incentives visit: http://www.smallbusiness.wa.gov.au
CCIWA Chief Executive Officer