Bowen Law Services | Businesses

Bowen Law Services

Phone: +61 419 667 878

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25.01.2022 From a happy client yesterday - Many thanks

21.01.2022 From a happy client yesterday - Many thanks

13.01.2022 The Government has now released the Mandatory Code of Conduct to apply to certain commercial and retail leases during the COVID-19 crisis. It is intended that landlords and tenants will agree upon temporary arrangements taking into account the particular circumstances on a case-by-case basis. The Code applies to a tenant who has an annual turnover of up to $50 million; and suffers financial hardship as a result of the COVID-19 pandemic. A tenant is deemed to suffer financi...al hardship if it suffers a 30% reduction in turnover compared to the same period last year. The Code will apply for the period during which the Commonwealth JobKeeper program is operational. Landlords must reduce rent in proportion to the tenant’s reduction in turnover. The reduction in rent must be in the form of:a waiver of rent representing at least 50% of the reduction. This component is not recoverable by the landlord. The balance of the reduction may be a deferral of rent. Rent increases are frozen. The landlord must not terminate the lease for non-payment of rent or make a claim on a bank guarantee or a security deposit for non-payment of rent. The landlord must not penalise the tenant for ceasing trade or reducing trading hours. The tenant must comply with the terms of the Lease, subject to any amendments agreed in accordance with the Code. A material failure by the tenant will forfeit any protections provided to the tenant under the Code. The Code must be the subject of legislation to be introduced in each state or territory and is likely to be more changes so this is a brief outline for advice please contact our office.

01.01.2022 Hi Finally we have a FB page !!