No compliance activity for loan relief in FY20, says ATO
The ATO has announced that it will not be taking any compliance action against SMSFs seeking commercial loan relief this financial year as long as they properly document how funds reached those new arrangements.
In an online discussion with SMSF Association chief executive John Maroney, ATO assistant commissioner Dana Fleming addressed the issue of whether there would be any compliance action against SMSFs seeking commercial loan relief as a result of rental relief to tenants.
Read more at SMSF Adviser.
