• REIA responds to wage subsidies


    Author: Real Estate Institute of Australia


    The Real Estate Institute of Australia President Adrian Kelly said the REIA welcomes the government’s announcement regarding wage subsidies offered to businesses who are to keep workers on the payroll. 

    “This will mean those currently still employed can continue doing what they have been doing in providing goods and services and thus dampen the economic disruption,” said Mr Kelly. 

    “They can continue to, not only survive the crisis but meet the bulk of their financial commitments. 

    “REIA is pleased that recipients of the wage subsidies keep paying bills, including rents to keep the economy ticking over albeit at a slower pace.” 

    For real estate agents it means they can keep their doors open and continue to meet their clients needs, including managing rental properties.

    “It also means that agents can assist the government in its wish for tenants and landlords, residential and commercial, to come to viable arrangements in the current circumstances,” said Mr Kelly. 

    “With sales volumes likely to fall, it also means that agencies can continue to use property management income to keep employing their property managers.

    “I say thank you to the government for thinking through and acting upon this complex issue, it will keep many Australians in employment, paying their bills and keeping the economy ticking over."

    For more updates from the REIA, visit their website or for more information on the JobKeeper payments, visit the Australian Taxation Office website.

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