In House Assets Rules ATO Gives Some Concessions!

The ATO has indicated that it will provide some extra statutory concessions from the rigorous application of the In house asset rules.

If the in house assets ratio, as at balance date, of an SMSF exceeds 5%, the trustee of the SMSF must develop and implement an asset divestment strategy to ensure that at the next balance date the ratio is not more than 5%.