On 28 April 2020, the Federal Court held that Upfront payments to secure a rent reduction under long term leases were on capital account and not deductible under s 8-1 of the ITAA97.
See below for a summary of the case.
Tax Technical
Mussalli v CofT – Upfront payments to secure rent reduction payable for MacDonalds restaurants held not deductible (on capital account)
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