Clause 16

by deleting subsection (1) and substituting the following subsection:“(1) Each provision in the first column of the following table applies for the purpose of ascertaining the income of a person set out opposite that provision in the second column of the table, for the basis period for each year of assessment set out opposite that income in the third column of the table:ProvisionIncomeYear of assessmentSubsection (2)Income derived by a person in the period between 1 January 2020 and 31 December 2020 (both dates inclusive) from the leasing or licensing of any immovable property in relation to which a remission of property tax is given by the Property Tax (Non‑Residential Properties) (Remission) Order 20202021 or 2022Subsection (2A)Income derived by a person (being the lessor or licensor of a prescribed property) in the period between 1 January 2021 and 31 December 2021 (both dates inclusive) from the leasing or licensing of the prescribed property2022 or 2023”;

by inserting, immediately after subsection (2), the following subsection:“(2A) Despite any other provision in this Part, the amount of any monetary payment made by the person in the year 2021 to the person’s lessee or licensee of the prescribed property, is allowed as a deduction against that income for the relevant year of assessment, if —

the payment is made pursuant to an undertaking given by the person to his, her or its lessor or licensor, to provide relief to the lessee or licensee from any economic hardship arising from a COVID‑19 event; or

the Comptroller is satisfied that the payment is intended to provide relief to the lessee or licensee from any economic hardship arising from a COVID‑19 event.”;

by deleting the words “between 1 January 2020 and 31 December 2020 (both dates inclusive)” in subsection (3) and substituting the words “between 1 January and 31 December (both dates inclusive) of the year 2020 or 2021 (whichever is applicable)”; and

by deleting the words “and “owner” ” in subsection (4) and substituting the words “, “owner” and “prescribed property” ”.