BIM61325 - Leasing: Avoidance: Sale and leaseback of land: definitions

Lease and rent are defined in ICTA88/S779 (12).

As to rent, ICTA88/S779 (6)(d) provides that in making the comparison between the payment and the commercial rent there shall be excluded:

• so much of the payment as is in respect of services or the use of assets other than land or buildings,

and

• rates usually borne by the tenant.