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SIC 15 Operating Leases - Incentives

Published July 1999. Effective 1 January 1999.

Withdrawn for periods starting on or after 1 January 2019 when SIC 15 is superseded by IFRS 16 Leases.

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Contents

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Synopsis

SIC 15 clarifies how incentives related to operating leases, such as initial rent free periods, should be recognised by both lessee and lessor.

It requires that:

  • The lessor recognises the aggregate cost of incentives as a reduction of rental income over the lease term on a systematic basis
  • The lessee recognises the aggregate benefit of incentives as a reduction of rental expense over the lease term on a systematic basis. 

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Annual period starts
Effective version of standard
Notes on amendments 
On or after 1 January 2016 SIC 15 2018 Required Standards 
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