CRA permits deduction of rents on a due-date basis for step-down lease

In reviewing a "step-down" lease (i.e., where the annual rents decreased for the later years), CRA concluded that the higher rents for the inital years did not represent payments of rent in respect of the subsequent years, so that s. 18(9) did not require deferral of the higher deductions for the inital years.

Neal Armstrong.  Summary of 27 August 2012 Memorandum 2012-0442831E7 under s. 18(9).