News : Property

Property, Regulation

DomaCom gets downsizer approval

DomaCom downsizer

An ATO Administrative Binding Advice ruling obtained by DomaCom means individuals will be able to make downsizer contributions from the partial sale of a residence.

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ATO, Property

ATO seeks input on in-house asset exclusion

in-house asset exclusion

The ATO’s draft legislative instrument excluding SMSFs that provided COVID-19 rent deferrals from acquiring in-house assets is open for consultation.

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Direct Property, Property

LRBA property count now required

LRBA property count

SMSFs holding property under a limited recourse borrowing arrangement (LRBA) have a new reporting property count requirement on the 2020 annual return.

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Property

Rent relief instrument imminent

SMSF landlords rent relief

The regulator’s compliance approach to COVID-19 driven rent relief provided by SMSF landlords will shortly be legally formalised.

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Property

DomaCom snaps up first asset for new product

DomaCom property

DomaCom has acquired its first rent-to-own property as part of its new equity model product.

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Property, Tax

Rent relief a 2020 tax return issue

Rent relief

The tax implications of rent concessions granted to tenants as a result of COVID-19 need to be taken into account for the 2020 financial year, an SMSF technical expert says.

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Property

Loan guarantees can work

Unit trust loan guarantee

A specialist law firm has said SMSF trustees can act as loan guarantors in relation to geared unit trust investment in property developments.

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Property, Superannuation

Step carefully before offering rent relief options

SMSF landlords rent relief

SMSF landlords should consider the options available to them before determining rent relief granted to related tenants, SISFA says.

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Investments, Property

Trustees must look beyond dividends, property

SMSF share dividends property

SMSF trustees reliant on franking credits and rental income need to shift to new sources of investment growth as a result of the COVID-19 downturn.

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Property, Superannuation

Property projects ripe for SMSFs

Property development SMSFs

The contraction of the property market and reduction in capital have created opportunities for SMSFs to become involved in property development following the recent guidelines released by the ATO.

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