Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREATO rent relief approach raises questions, says SISFA
The Tax Office’s compliance approach to commercial rent relief from SMSF landlords raises questions as to what can be offered to related-party tenants, according to the Self-managed Independent Superannuation Funds Association.
The ATO has previously confirmed in March that their “compliance approach for the 2019–20 and 2020–21 financial years is that we will not take action if an SMSF gives a tenant — even one who is also a related party — a temporary rent reduction, waiver or deferral because of the financial effects of COVID-19 during this period”.
Read more at the SMSF Adviser.
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