COVID-19 rent relief has LRBA complications
SMSF landlords wanting to provide rental relief to tenants as a result of COVID-19 may encounter complications if they have borrowed money under a limited recourse borrowing arrangement despite the ATO’s recent lenient stance, a law firm warns.
Earlier this week, the Australian Taxation Office said it would not be taking action where an SMSF gives a tenant a temporary reduction for the 2019–20 and 2020–21 financial years as a result of the effects of COVID-19.
Read more at SMSF Adviser.
