Self Managed Superannuation Funds (COVID-19 Rental income deferrals – In-house Asset Exclusion) Determination 2020
4. Determination4. Determination
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4. Determination
For the purposes of paragraph 71(1)(f) of the Superannuation Industry (Supervision) Act 1993, where during one or both of the 2019-20 or 2020-21 income years the fund:
(a) allows 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 which creates an asset held by the fund, or
(b) holds an asset that is an interest in a company or unit trust which is not an in‑house asset under regulation 13.22B or regulation 13.22C of the Superannuation Industry (Supervision) Regulations 1994, 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
the asset is not an in‑house asset of the fund in the 2019-20 or 2020-21 years when the rent was deferred nor any future income years.