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Example 5: Lease Premiums on grant of short lease

This topic has 1 reply, 2 voices, and was last updated 6 years ago by Tax Tutor.

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November 10, 2019 at 6:00 am #551929
fatimaumar
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Hi. The annual rent was due on 1 July 2018. Why is this not prorated according to the number of months within the tax year?
November 11, 2019 at 11:14 am #552024
Tax Tutor
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The basis of assessment is actual cash received – NOT accrued.
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