The 3-year lease on the Carlton studio was contracted to expire on 30 May

2021 with an option to renew for another 3 years. On 1 June 2021, Dri gave

up the lease of the yoga studio in Carlton and took up a 5-year lease for a

larger studio, also in Carlton. She was inspired to move premises by the better

location, more street parking and by the benefits she was offered by the owner

of the new property. These benefits were a lump sum sign on cash bonus of

$5,000, a 2-month rent-free period (the normal monthly rent would have been

$3,000) and a free air ticket plus meals and accommodation to attend the Yoga

Teachers conference at Byron Bay, New South Wales for a weekend in June

2021 valued at $1,000.

Advise Dri of the tax consequences which may result from her acceptance of

the offer to re-locate her studio to the new premises. You may ignore any

potential GST implications.