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Legal risks flagged with popular methods of documenting rent relief
While trustee resolutions and exchanging letters have been popular methods of documenting rent relief, one law firm has warned this may not stack up to scrutiny further down the track.
In late March, the ATO announced that for the 2019–20 and 2020–21 financial years, it would not undertake compliance action where an SMSF provides a tenant with rent relief due to the impacts of COVID-19 in relation to some of the SIS Act implications that can arise from a reduction in rent.
Read more at SMSF Adviser.
