Review of the Prescribed Rental Threshold under the Retail and Commercial Leases Act 1995

Consultation has concluded. Below is a record of the engagement.


Have your say on the review of the prescribed rental threshold in South Australia.

What's being decided?

As required by legislation, the Valuer-General has commenced an independent review into the retail and commercial lease prescribed rental threshold which currently sits at $400,000.

The prescribed rental threshold determines whether leases are governed by the Retail and Commercial Leases Act 1995 (Act), which is administered by the Small Business Commissioner.

In conducting the review, we want to hear from Landlords, Tenants and their representative groups, as well as other stakeholders and parties interested in the application of the threshold.

We welcome any written feedback and submissions, including whether or not the prescribed threshold should be increased from $400,000, and if so, what should the new threshold be.

Background

The threshold was last reviewed in 2010 and was formally increased by regulation the following year from $250,000 to $400,000.

Legislative changes took effect on 1 July 2020 that were designed to provide a level of certainty to the property industry, providing a structured process for the completion of an independent review of the threshold.

The first stage of this process is for the Valuer-General to conduct an independent review, as per section 6A of the Act (attached) and to provide advice to the Attorney-General by 30 October 2022. The Valuer-General is an independent statutory officer responsible for undertaking valuations and providing associated advice as required by legislation and other government agencies.

The threshold will then be formally reviewed every 5 years thereafter

Get involved

Find out more:

Have your say by:

What are the next steps?

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 increased. While the review rests with the Valuer-General, your feedback will be considered before advice is given.

The Valuer-General cannot recommend a decrease under the Act.

Have your say on the review of the prescribed rental threshold in South Australia.

What's being decided?

As required by legislation, the Valuer-General has commenced an independent review into the retail and commercial lease prescribed rental threshold which currently sits at $400,000.

The prescribed rental threshold determines whether leases are governed by the Retail and Commercial Leases Act 1995 (Act), which is administered by the Small Business Commissioner.

In conducting the review, we want to hear from Landlords, Tenants and their representative groups, as well as other stakeholders and parties interested in the application of the threshold.

We welcome any written feedback and submissions, including whether or not the prescribed threshold should be increased from $400,000, and if so, what should the new threshold be.

Background

The threshold was last reviewed in 2010 and was formally increased by regulation the following year from $250,000 to $400,000.

Legislative changes took effect on 1 July 2020 that were designed to provide a level of certainty to the property industry, providing a structured process for the completion of an independent review of the threshold.

The first stage of this process is for the Valuer-General to conduct an independent review, as per section 6A of the Act (attached) and to provide advice to the Attorney-General by 30 October 2022. The Valuer-General is an independent statutory officer responsible for undertaking valuations and providing associated advice as required by legislation and other government agencies.

The threshold will then be formally reviewed every 5 years thereafter

Get involved

Find out more:

Have your say by:

What are the next steps?

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 increased. While the review rests with the Valuer-General, your feedback will be considered before advice is given.

The Valuer-General cannot recommend a decrease under the Act.

Discussions: All (1) Open (1)