Retail Leases Act 2003 does not apply to premises above third storey
Certain retail premises are excluded from the protection and requirements of the Retail Leases Act 2003 (Act), including premises used for the retail provision of services located above the first three floors in a multi-story building (Third Storey Exclusion). A recent VCAT ruling in Aqua Greenland Pty Ltd v Max Therapy School Pty Ltd (Building and Property) [2023] VCAT 449 has considered the Third Story Exclusion.
Government Announces details of COVID-19 mandatory commercial leasing Code
Over the last few weeks, landlords, tenants and their lawyers have been awaiting guidelines from the Government to assist in their lease negotiations. While further legislation is required from each of the States, the Prime Minister released the National Cabinet Mandatory Code of Conduct SME Commercial Leasing Principles During COVID-19 (Code) on 7 April 2020.
Superannuation and COVID-19: SMSFs can reduce rent payable to related tenants
The ATO has confirmed that it will not take compliance action against SMSFs that give a related party tenant a temporary reduction in rent during the 2019/20 and 2020/21 years.
Planning Your Business Sale: 3 ways a lawyer can add value
Lawyers are often the butt of jokes when it comes to how expensive we are. We get it. But if you are engaging a lawyer to sell (or buy) a business, the right lawyer can add value to your bottom line.
Ultimate Consumer Test - Broad Definition of Retail Leases confirmed in Victoria
A broad interpretation of the definition of a retail lease in Victoria has again been supported by the courts. Section 4(1) of the Retail Leases Act 2003 (Vic) (RLA) defines 'retail premises' to include 'the sale or hire of goods by retail or the retail provision of services' but does not further define these terms.