Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREDocumentation critical for mitigating risks with rent relief
While the ATO has provided temporary relief for SMSFs that provide rent reductions to tenants, it is vital SMSFs obtain proper documentation around this to avoid compliance headaches later on, warns an SMSF expert.
Speaking in a recent webinar, Smarter SMSF chief executive Aaron Dunn said while the ATO has stated that it won’t take compliance action against a fund if a rent reduction or waiver was genuinely provided as a result of COVID-19, it is still important that SMSF clients properly document this.
Read more at SMSF Adviser.
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