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Unformatted text preview: m (e.g. shares of in any form (e.g. shares of tenant) covering whole/part period [can be spread out over tenancy period but not more than 36 months – s.5B]
Money paid to other person for owner
Consideration convertible into money, e.g. discharge owner’s debt
owner's expenditure e.g. repairs borne by the tenant
Rent for car parking spaces (if not separately rated from the building)
Irrecoverable rent recovered
Nonrefundable deposit 遗 遗 (Normally tenant has to pay (Normally tenant has to pay 2month deposits as security for any damage or unpaid utility expenses. It is refunded at end of tenancy.) Unit 2 – Property Tax
Unit Irrecoverable rent – deductible from AV under s.7C [since 1.4.1993]; it should be
Previously included as AV
Proved to the satisfaction of assessor to be irrecoverable
Deductible in Y/A found to be irrecoverable
Excess irrecoverable rent can be carried backward to latest Y/A with AV – s.7C(3)
Deducted from AV before rates & 20%
Subsequent recovery assessed in year of recovery under s.7C(2) Unit 2 – Property Tax
Rates – s.5(1A)(b)(i) Deductible from AV only if paid by owner as agreed in tenancy agreement Vacant period – no deduction of rates
[Note: Rates demand note includes rates and ground rent. Latter is not deductible item under Property Tax.] Statutory Deductions 2...
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This document was uploaded on 03/18/2014.
- Spring '14