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Example 5: Lease Premiums on grant of short lease

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  • November 10, 2019 at 6:00 am
    Example 5: Lease Premiums on grant of short lease 2
    fatimaumar
    Participant

    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
    Example 5: Lease Premiums on grant of short lease 3
    Tax Tutor
    Keymaster

    The basis of assessment is actual cash received – NOT accrued.

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