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  • Commercial lease payment changes due to COVID-19

    If your business has received, or given, a rent concession as a result of COVID-19, your tax obligations may change.

    A rent concession can be a:

    • 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.

    The income you must declare, deductions you can claim, and your GST and capital gains tax obligations will depend on:

    • the type of rent concession you have received, or given
    • if an existing agreement has changed, or a new or additional agreement is created
    • your accounting method (if you are a landlord).

    See also:

    Last modified: 12 Jul 2021QC 66362