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Tax Tip of the Month
Property Tax
Budget Report
Talking Technical
Tax free receipts
A premium paid by a company for an assignment of a less than 50 year lease is a tax-free receipt. It is also possible to vary what would otherwise be a capital receipt for the assignment of a lease into an income receipt (with a consequent income deduction for the tenant) by granting a sub-lease with a premium. This could be of advantage where income tax losses are available to shelter income.
