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Withdrawn for periods starting on or after 1 January 2019 when SIC 15 is superseded by IFRS 16 Leases.
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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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IFRSs referred to by SIC 15
This page was last updated 21 March 2019
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