15‑25 Amount received for lease obligati15‑25 Amount received for lease obligation to repair

15‑25 Amount received for lease obligation to repair

Your assessable income includes an amount you receive from an entity if: (a) you receive it as a lessor or former lessor of premises; and (b) the entity pays you the amount for failing to comply with a lease obligation to make repairs to the premises; and (c) the entity uses or has used the premises for the *purpose of producing assessable income; and (d) the amount is not assessable as *ordinary income under section 6‑5.

Note: The entity can deduct the amount: see section 25‑15.