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On 21 February 2017, Deputy Premier and Minister for Small Business, John Barilaro announced that the Retail Leases Amendment (Review) Bill 2016 was passed which will result in significant changes to the Retail Leases Act 1994.
The Bill amends the Act to:
As a result of the changes, a Retail Code of Industry Practice will be developed and negotiated by industry to address information asymmetry and encourage the reporting of sales and occupancy costs. Signatories to the Code will represent parties to retail leases inside large shopping centres in order to increase the sharing of information between landlords and tenants.
Read the summary of changes
Read the frequently asked questions (FAQs) for small business owners