Superannuation Industry (Supervision) Self-Managed Superannuation Funds (COVID 19 Rental Income Deferrals - In-House Asset Exclusion) Determination 2022
Reference: LI 2022/3
Document type: Legislative Instrument
Enabling act: Superannuation Industry (Supervision) Act 1993
Date of issue: 11 February 2022
Signatory: Ben Kelly Deputy Commissioner of Taxation Policy, Analysis and Legislation Law Design and Practice Group
Registration number: F2022L00232
Registration date: 2 March 2022


1. Name of instrument: This determination is the Superannuation Industry (Supervision) Self-Managed Superannuation Funds (COVID 19 Rental Income Deferrals - In-House Asset Exclusion) Determination 2022. | 2. Commencement: This instrument commences on the day after it is registered on the Federal Register of Legislation. | 3. Application: This 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. | 4. Determination: For the purposes of paragraph 71(1)(f) of the SISA, where during the 2021-22 income year the fund: (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 (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 the 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. (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 (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 the 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. | 5. Definitions: Expressions used in this determination have the same meaning as in the SISA and the SISR.