Sample Document - Temporary LRBA loan relief
The Australian Taxation Office (ATO) through its COVID-19 web page offers relief for trustees who have a limited recourse borrowing arrangement and are seeking loan repayment relief for a period of time. The Regulator will not applying compliance resources towards such an arrangement where relief is negotiated with a related party or another lender due to financial impacts of COVID-19 for the 2019-20 and 2020-21 financial years.
When you order on the Smarter SMSF platform you will be providing with the following documents (PDF):
- Information memorandum
- Trustee Minute outlining the decisions to apply for LRBA loan repayment relief from the lender
- Request by the SMSF to the lender for LRBA loan repayment relief due to COVID-19
- Details from Lender (where related party) of loan repayment relief being provided to the SMSF