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The Valuer-General has commenced an independent review into the retail and commercial lease prescribed rental threshold. The prescribed rental threshold is a determinant as to whether leases are governed by the Retail and Commercial Leases Act 1995 (Act) which is administered by the Small Business Commissioner. The prescribed rental threshold was last reviewed in 2010.
The review is being conducted in accordance with the Act by the Valuer-General to provide independent advice to the State Government on whether the threshold should be amended.
Stakeholders in the retail and commercial lease sector are invited to provide any submissions on the prescribed rental threshold which will form part of the considerations by the Valuer-General.
Stakeholders should download and review the information sheet prior to lodging any submission.