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SIC-15 Operating Leases—Incentives

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Superseded by IFRS 16 Leases.

SIC-15 addresses how a lessee and a lessor account for incentives (such as rent-free periods or contributions by the lessor to the lessee's relocation costs) related to operating leases. Such incentives are accounted for as a reduction of lease income (lessor) or lease expense (lessee) over the lease term.

Standard history

In April 2001 the International Accounting Standards Board adopted SIC-15 Operating Leases—Incentives, which had originally been issued by the Standing Interpretations Committee of the International Accounting Standards Committee in December 1998.

SIC-15 was superseded by IFRS 16 Leases.