The Retail Leases Amendment (Review) Bill was passed by the NSW Legislative Council on 22 February 2017.
The key amendments were outlined in the December edition of this newsletter. The following points are additional important aspects of the successful bill:
- Any payments charged for services provided by a landlord are not classified as outgoings
- With the exception of a few, online transactions will be removed from the calculation of turnover rent, although the term ‘online sales’ is not defined in the Act
- Landlords are forbidden from accessing and reclaiming mortgagee consent fees
- The Civil and Administrative Tribunal will also have greater authority regarding disclosure statements and increased monetary threshold limits, in addition to an established civil penalty regime if the amendment is breached
These changes are relevant for retailers across NSW. The bill is awaiting royal assent, and the date of commencement will soon be published in the Government Gazette.