smsf rental property

Valuing fund assets for an SMSFs annual return | Taxwise Australia | (08) 9248 8124

Valuing fund assets for an SMSF’s annual return

By Warren Kruger / October 14, 2022 / 0 Comments

Editor: The ATO has provided the following reminder and general advice for SMSF trustees regarding their obligations to value the assets annually.  One of many responsibilities trustees have when managing an SMSF is valuing the fund’s assets at market value.   This must be done every income year, so the ATO knows the SMSF has complied […]

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SMSF Related Party Rental Income Deferrals Due To COVIDE2809119 | Taxwise Australia | (08) 9248 8124

SMSF Related Party Rental Income Deferrals Due To COVID‑19

By Warren Kruger / February 12, 2021 / 0 Comments

  | | | The ATO has made a determination to ensure that trustees of SMSFs do not inadvertently breach the “in-house asset rules” where the fund allows a related party to defer the payment of rent under a lease agreement (on arm’s length terms) because of the financial impact of COVID‑19. Where the requirements […]

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SMSFs May Be Able To Offer Rental Relief To Related Party Tenants | Taxwise Australia | (08) 9248 8124

SMSFs May Be Able To Offer Rental Relief To Related Party Tenants

By Warren Kruger / May 19, 2020 / 0 Comments

  | | | As a result of the financial effects of the COVID-19 pandemic, some self-managed superannuation funds (‘SMSFs’) which own real property may want to give a tenant – who is a related party – a reduction in rent because the related party tenant has had a collapse in revenue. Charging a related […]

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