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Audit requirement for rent relief relaxed
The Tax Office has announced it has eased a requirement for auditors should they be overseeing cases of SMSF landlord rent relief being provided to tenants in response to COVID-19.
On its website, the ATO said it is currently updating the Auditor/Actuary Contravention Report (ACR) instructions for the 2020 income year to state that auditors will not need to report these breaches in the ACR.
Read more at SMSF Adviser.
