SPR 2021/D3

Superannuation Industry (Supervision) Act 1993

I, Ben Kelly, Deputy Commissioner of Taxation, make this determination under paragraph 71(1)(f) of the Superannuation Industry (Supervision) Act 1993 (SISA).

Draft Legislative Instrument

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 2021.

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:

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
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 (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.


Subsection 17(1) of the Legislation Act 2003 (LA) requires, before the making of a determination, that the Commissioner is satisfied that appropriate and reasonably practicable consultation has been undertaken.

As part of the consultation process, you are invited to comment on the draft instrument and its accompanying draft explanatory statement.

Please forward your comments to the contact officer by the due date.

Due date: 17 December 2021
Contact officer: Kristyn Chandler
Email: Kristyn.Chandler@ato.gov.au

Draft published 22 November 2021

Ben Kelly
Deputy Commissioner of Taxation
Policy, Analysis and Legislation
Law Design and Practice

Related Explanatory Statements:

SPR 2021/D3 - Explanatory statement