Fund management company Primewest is extending assistance to its tenants affected by Covid-19, offering business advice as part of a partnership with tax consultants RSM Australia.

Under the agreement, Primewest’s tenants will receive assistance to understand the various government stimulus packages available, their eligibility and support with the application process itself.

In addition, the tenant will also receive assistance with the preparation of financial information for the purposes of rent relief under the government’s new commercial tenancy code of conduct.

At a glance:

• Fund management company Primewest is partnering with tax consultants RSM Australia to provide assistance to its tenants affected by Covid-19.
• Under the agreement, Primewest’s tenants will receive assistance to understand the various government stimulus packages available, their eligibility and support with the application process itself. 
• Tenants will also receive assistance with the preparation of financial information for the purposes of rent relief under the government’s new commercial tenancy code of conduct.

Primewest Group Managing Director David Schwartz told WILLIAMS MEDIA the company was determined to maintain strong working relationships with its 1,600 tenants.

"We've found that a lot of our smaller tenants don't know how to get the best out of the government packages that are available," he said.

"Some of them may already be in a bit of a financial bind, so to spend more money on consultants is a big burden.

"It’s crucial to provide them with support that will help them manage their businesses through these challenging times.

Primewest Group Managing Director David Schwartz. Source: Primewest

"If tenants understand and can leverage the packages available to them, they’ll be well-placed to ride out the COVID-19 storm and rebound economically as quickly as possible.”

Adam Crowley, National Head of Property and Construction for RSM Australia, said, one of the biggest difficulties reported by commercial tenants who have been impacted by COVID-19 was determining their eligibility for government assistance.

"While the government stimulus packages promise to provide much-needed relief for Australian businesses, it can be complex to navigate the various packages on offer," he said.

"Understanding exactly what a business is entitled to and how to apply can be of enormous assistance during such a challenging time.

"For many who have very real concerns for their staff and the long-term viability of their business, the government packages on offer could create a bridge to the other side of COVID-19.”

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