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The Australian Taxation Office (ATO) has yet to alter its intepretation of rules around using self-managed superannuation funds (SMSFs) to renovate property, despite recent reports that may suggest otherwise.
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A recent Real Estate Business suggested that funds from within a SMSF could now be used to renovate properties.
Instead, Real Estate Business can confirm that the ATO has only issued a draft ruling, and at this stage it's just accepting comments on how it proposes to change its intepretation of the relevant SMSF rules.
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The draft ruling can be obtained here.
Comments are being accepted until October 28.
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