We know that some businesses hold their business premises in their SMSF and that many have been impacted by the coronavirus.

The ATO has confirmed that SMSFs can offer rent relief to their associated tenants. The attached document explains this in more detail.

If you are in this position, you should assess what arrangements you can make between your business and your SMSF. It is important, however, that you have appropriate documentation to provide to the auditors of the fund.

We have had discussions with our commercial law specialist, Sarina Cowle, to produce some documentation to assist funds. If you would like her assistance, she can be reached on 9870 4246 or scowle@slclaw.com.au 

Rent Relief SMSF during Covid-19

Got a question about this or the new government incentives for business? Think Accountants Pty Ltd are still open and here to help. Give us a call on 9428 9630