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  • Writer's pictureThomas Tsang

FRS116 Lease

It is effective from 1 Jan 2019 for lease with initial period more than 12 months and not low value item. It has to take into account of option to renew.

Transition application - for remaining lease with less than 12 months from initial application, that is from 1 Jan 2019, can choose not to apply FRS116.

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