A landlord pays me a sign-on incentive of $4K for leasing his premises plus paint and new carpet (worth $6K). Are any or all of those amounts assessable?
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Hi @PeterTheGreat,
If you received an incentive payment to lease the premise. That is included in the business's assessable income. When it comes to the paint and carpet. If the business has received goods, services or other products or benefits. These could be considered barter transactions and would be worked out on the market value of those goods. These would be included in the income tax return as assessable income.
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Hi @PeterTheGreat,
If you received an incentive payment to lease the premise. That is included in the business's assessable income. When it comes to the paint and carpet. If the business has received goods, services or other products or benefits. These could be considered barter transactions and would be worked out on the market value of those goods. These would be included in the income tax return as assessable income.
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