The Housing Authority will pass on the enhanced rates concession for the third and fourth quarters of 2020-21 to its non-domestic tenants and licensees, with a cap of $5,000 per quarter for each rateable property.
The authority’s Commercial Properties Committee approved the arrangement today.
Providing an enhanced rates concession to non-domestic properties for the third and fourth quarters by increasing the exemption ceiling from $1,500 to $5,000 per quarter for each rateable non-domestic property is one of the measures under the third round of the Anti-epidemic Fund.
The arrangement is applicable to the authority’s retail and welfare premises, single-operator markets and factories, totalling about 13,300 tenancies and licences, but excludes carparks.
For the authority’s 12 single-operator markets, the operators will also pass on the rates concession to their licensees in full.
The authority said the total amount of enhanced rates concession, estimated at around $38.9 million, will be passed on to tenants and licensees on a no-loss, no-gain principle.