{"id":"F2022L00232","name":"Superannuation Industry (Supervision) Self-Managed Superannuation Funds (COVID-19 Rental Income Deferrals – In-House Asset Exclusion) Determination 2022","slug":"superannuation-industry-supervision-self-managed-superannuation-funds-covid-19-rental-income-deferra","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":102299,"registerId":"commonwealth-F2022L00232-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1. Name of instrument","sectionType":"part","heading":"1. Name of instrument","content":"## 1. Name of instrument\n\nThis determination is the Superannuation Industry (Supervision) Self\\-Managed Superannuation Funds (COVID\\-19 Rental Income Deferrals – In\\-House Asset Exclusion) Determination 2022.","sortOrder":0},{"sectionNumber":"2. Commencement","sectionType":"part","heading":"2. Commencement","content":"## 2. Commencement\n\nThis instrument commences on the day after it is registered on the Federal Register of Legislation.","sortOrder":1},{"sectionNumber":"3. Application","sectionType":"part","heading":"3. Application","content":"## 3. Application\n\nThis instrument applies to the trustee(s) of a self\\-managed superannuation fund (fund) where the fund acquires or holds an asset that would be an in-house asset as a result of the rent payable under a lease as described in paragraphs 4(a) and (b) being deferred during the 2021–22 income year.","sortOrder":2},{"sectionNumber":"4. Determination","sectionType":"part","heading":"4. Determination","content":"## 4. Determination\n\nFor the purposes of paragraph 71(1)(f) of the SISA, where during the 2021–22 income year the fund:\n\n(a) acquires an asset held by the fund by allowing a related party to defer the payment of rent under a lease agreement (on arm’s length terms) because of the financial impact of the coronavirus known as COVID‑19, or\n\n(b) holds an asset that is an interest in a company or unit trust which is not an in‑house asset under paragraph 71(1)(j) of the SISA and regulation 13.22B or regulation 13.22C of the Superannuation Industry (Supervision) Regulations 1994 (SISR), and that company or unit trust allows a tenant to defer the payment of rent under a lease (on arm’s length terms) because of the financial impact of the coronavirus known as COVID‑19\n\nthe asset is not an in\\-house asset of the fund in the 2021–22 income year when the rent was deferred, nor any future income years.","sortOrder":3},{"sectionNumber":"5. Definitions","sectionType":"part","heading":"5. Definitions","content":"## 5. Definitions\n\nExpressions used in this determination have the same meaning as in the SISA and the SISR.","sortOrder":4}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument remains tightly scoped to its original purpose: providing a temporary COVID-19 relief measure for SMSF rent deferrals in the 2021-22 income year. It does not expand beyond this specific pandemic-related carve-out."},"complexity_factors":["Very short instrument (5 sections, approximately 250 words)","Only 1 substantive operative provision (section 4)","No defined terms of its own — relies entirely on external definitions from SISA and SISR","Single condition to satisfy: rent deferral during 2021-22 income year due to COVID-19 financial impact, on arm's length terms","No nested exceptions or complex conditional logic","No cross-references beyond basic citations to SISA section 71(1)(f), SISA section 71(1)(j), and SISR regulations 13.22B and 13.22C"],"plain_english_summary":"This instrument gives SMSFs a safe harbour for COVID-19 rent deferrals: if an SMSF allowed a related-party tenant to defer rent during 2021–22 because of pandemic hardship, and the lease was otherwise commercial, the deferred rent won’t be treated as an in‑house asset.\n\nThat protects trustees and related-party tenants from breaching the 5% in‑house asset cap (now and in future years), avoiding forced asset sales or penalties for pandemic-era relief."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This determination narrows the default scope of the SISA in‑house asset rules for the stated circumstance: assets that would otherwise be in‑house under paragraph 71(1)(f) because of rent deferrals during 2021–22 are excluded from being in‑house assets (section 4). The instrument therefore changes how the in‑house asset rules apply to those COVID‑19 rent deferral cases and relies on SISA/SISR definitions for interpretation (section 5)."},"complexity_factors":["Narrow, single-issue instrument limited to rent deferrals arising from COVID‑19 in the 2021–22 income year (section 4).","Cross-references to existing in-house asset rules in the SISA (paragraph 71(1)(f) and 71(1)(j)) and SISR regulations 13.22B/13.22C require readers to consult primary legislation (section 4).","Reliance on terms and meanings from the SISA and SISR increases interpretive dependency on those Acts and regulations (section 5).","Application hinges on related-party and arm’s‑length characterisations that can be fact‑specific and require evidence (section 4).","Implications for trustees’ record‑keeping and compliance assessment because an asset’s treatment is time‑linked to a 2021–22 rent deferral event (sections 3–4)."],"plain_english_summary":"This instrument says that if, during the 2021–22 year, an SMSF ends up acquiring or holding an asset because a related party (or a company/unit trust it holds) was allowed to defer rent due to COVID‑19, that asset will not be treated as an \"in‑house asset\" for 2021–22 or later years. It affects trustees of self‑managed super funds with related‑party leases and tenants who deferred rent, and matters because it changes whether trustees must treat those assets against the in‑house asset limits (see sections 3–4)."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-industry-supervision-self-managed-superannuation-funds-covid-19-rental-income-deferra","history":"/api/acts/superannuation-industry-supervision-self-managed-superannuation-funds-covid-19-rental-income-deferra/history","analysis":"/api/acts/superannuation-industry-supervision-self-managed-superannuation-funds-covid-19-rental-income-deferra/analysis","conflicts":"/api/acts/superannuation-industry-supervision-self-managed-superannuation-funds-covid-19-rental-income-deferra/conflicts","importantCases":"/api/acts/superannuation-industry-supervision-self-managed-superannuation-funds-covid-19-rental-income-deferra/important-cases","documents":"/api/acts/superannuation-industry-supervision-self-managed-superannuation-funds-covid-19-rental-income-deferra/documents"}}