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30 Leasing - Coggle Diagram
30 Leasing
Leasing
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Tax treatment for lessor
lease rental: gross Y from biz, taxable as S4(a) Y
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is legal owner of the leased asset, carrying biz of leasing, can claim CA
Tax treatment for lessee
lease rental pd by a lessee is deductible (immediate tax relief)
IF it is incurred wholly and exclusively for the pdt of gross Y from the leasing biz (no need to be incurred in an evenly pattern)
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only renting asset, not legal owner
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