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Your client has purchased an investment apartment that has a rent guarantee from the developer of 5% pa for a period of four years. During
Your client has purchased an investment apartment that has a rent guarantee from the developer of 5% pa for a period of four years. During the current financial year your client has been unable to rent the apartment, so she is relying on the rent guarantee payment to compensate her for not being able to find a tenant. The developer is due to pay the amount as a lump sum and your client is not sure whether the amount is income. Advise her.
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