Implications of COVID-19 on SMSF property investments | Accurium

Webinar date/time: 04/06/2020 02:00 PM
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The end of the current financial year is known - 30 June 2020, but the end of the effect of the COVID-19 pandemic will roll into the next financial year. In this webinar we will focus on one aspect of the COVID-19 pandemic - the effect it has had on property investments held by self managed superannuation funds. There have been many compliance issues raised and a number of concessions provided. It's time to sort through the issues, the concessions, the relief measures and how they all tie into preparing 2020 and 2021 year end financial statements and getting through the annual audit.
 
During the webinar we will cover:
 
  • The rent relief measures and how they apply to property held by an SMSF;
  • Whether the structure to hold property, either directly or via an interposed entity affects the relief measures;
  • The relief measures available where the SMSF holds property via an LRBA;
  • Satisfying the requirement to record property assets at market value in 2020 financial statements.
  • What documentation should be prepared in preparation for the annual fund audit and if the ATO comes a knocking.
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ACCU Mark Ellem_sml

Meet our guest presenter

Mark Ellem - SMSF Specialist Advisor

Mark provides technical and compliance support on SMSFs to financial advisors, accountants and SMSF trustees. He regularly writes and presents on SMSF related technical and compliance matters.

An accredited SMSF Specialist Advisor with the Self-Managed Super Fund Association, he was awarded the 2018 CEO award in February 2019 for his contribution to the association and was in the inaugural group of association members to advance to the status of Fellow in February 2020. He is also a Fellow of both CPA Australia and the Institute of Public Accountants (IPA), as well as being a Registered Tax Agent.

Mark has spent over 30 years in accounting practices and SMSF administration companies, including running his own accountancy practice and SMSF administration and compliance advice company for ten years.

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Disclaimer

This information is provided by Accurium Pty Limited ABN 13 009 492 219 (Accurium). It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Accurium is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.