Common Contracts
1 similar Peppercorn Rent Agreement contracts
Peppercorn rent agreement templatePeppercorn Rent Agreement • June 27th, 2023
In December 2018, the Australian Accounting Standards Board (AASB) issued an amending standard that provides a temporary exemption for not-for-profit (NFP) entities from the requirement to fair-value the right-of-use assets arising from peppercorn lease contracts. The exemption is optional, allowing entities to measure and recognise right-of-use assets arising from peppercorn leases at fair value if they choose to do so, or at cost (based on actual payments).
