Tax relief for landlords who slash rent on commercial properties

Modified 6 Apr 2020, 10:47 am

CORONAVIRUS | Private landlords who slash rental for commercial tenants by at least 30 percent can offset that amount when paying income tax.

This was among several measures undertaken by Putrajaya to stimulate the economy.

Announcing this today, Prime Minister Muhyiddin Yassin (photo) said landlords must share the burden currently faced by the country.

"I urge landlords to emulate the government (in providing rental relief) by reducing rent during the movement control order (MCO) period and three months after," he said.

He said landlords can seek tax relief equivalent to the amount of rental forgone from April until June.

Muhyiddin said government or government-linked company-owned premises have already waived or offered discounts on rent.

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