News & Insights
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The NSW Government has introduced measures to provide relief to commercial and residential landowners, who provide a reduction in rent to a tenant who is experiencing financial distress as a result of COVID-19. The 2020 land tax COVID-19 relief is intended to reduce a landowner’s land tax payable for 2020, by up to 25%.
Given the uncertainties associated with the economic implications of the coronavirus outbreak, the mechanism of a “holding” deed of company arrangement “(DOCA)” may be an appropriate vehicle for certain companies which are insolvent or likely to become insolvent and have entered voluntary administration.