98. Treatment of premiums, etc. as rent.

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Taxes Consolidation Act, 1997 (No. 39)
Income Tax and Corporation Tax: The Main Provisions (ss. 32-531)
Part 4 Principal Provisions Relating to the Schedule D Charge (ss. 52-111)
Chapter 8 Taxation of rents and certain other payments (ss. 96-106A)
98. Treatment of premiums, etc. as rent.

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Version status: In force | Document consolidation status: Updated to reflect all known changes

Version date: 30 November 1997 - onwards

(1) Where the payment of any premium is required under a lease or otherwise under the terms subject to which a lease is granted and the duration of the lease does not exceed 50 years, the lessor shall be treated for the purposes of section 75 as becoming entitled when the lease is granted to an amount as rent (in addition to any actual rent) equal to the amount of the premium reduced by 2 per cent of that amount for each complete period of 12 months, other than the first, comprised in the term of the lease.