Rent or lease payment changes due to COVID-19

Rent or lease payment changes due to COVID-19

Rent is a major business expense.

There may be tax implications when you give or receive rent concessions as a result of COVID-19. It’s important to understand these changes and your obligations as a landlord or tenant.

The rent concession can be:

  • waiver – the tenant no longer needs to pay the amount of rent that is waived
  • deferral – the tenant still needs to pay the amount of rent deferred but they can pay at a later stage.

This information applies to:

  • tenants who receive rent concessions, such as waivers or deferrals, from their landlords
  • landlords who give rent concessions, such as waivers or deferrals, to their commercial tenants.

More information here

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