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  • 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:

    • a waiver – the tenant no longer needs to pay the amount of rent that is waived
    • a 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.

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    Last modified: 21 Jun 2021QC 66005