Rental period—Act, sch 6, definition rental period
21 Rental period—Act, sch 6, definition rental period
For schedule 6 of the Act, definition rental period, this section prescribes the rental period for a tenure.
Subject to subsections (3) to (5), the rental period for a tenure is 1 year starting on 1 July.
If a tenure starts on a day other than 1 July, the first rental period for the tenure is the period starting on the day the tenure starts and ending on the next 30 June.
If a tenure ends on a day other than 30 June, the last rental period for the tenure is the period starting on the last 1 July before the tenure ends and ending on the day the tenure ends.
Subsections (2) to (4) do not prevent the rental period for a tenure, for which the annual rent is more than $2,000, from being divided into quarterly sub-periods starting on 1 July.
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