Budget 2004: Other Property Taxation Announcements

• Author:
• KPMG

Double-Benefit Leasing

New legislation will apply from 17 March 2004 to restrict for lessees the rents allowed for tax
purposes under existing and new sale and leaseback and lease and leaseback arrangements.
The legislation will apply to lessees who account for the leaseback as a finance lease in their solo
accounts or in group consolidated accounts. It will restrict the tax deduction for lease rentals
payable by the lessee to the finance charge element shown in the lessee’s accounts and in ... (595 more words)

Information centre access is required.