- Presentations
- Audit, Investment standards
National Conference 2025
Defining business real property (BRP) is crucial for compliance in SMSFs, yet determining whether a property meets the criteria can be complex. Since the publication of SMSFR 2009/1, the use and classification of properties have evolved, introducing new challenges. Join Shelley as she takes a detailed look at the BRP definition and address both technical and practical issues that arise in its application. Through practical case studies, attendees learnt how to assess BRP in practice, understand key compliance factors, and apply the “wholly and exclusively” business use test. The session also explores the evolution of BRP, traditional applications, and modern interpretations, drawing insights from recent cases and ATO rulings. Whether you’re an auditor, adviser, or SMSF administrator, this session equips you with the knowledge to navigate the complexities of business real property with confidence.
By watching this session, you will be able to:
- Understand the definition of business real property (BRP) and its critical role in SMSF compliance.
- Learn practical steps to assess whether a property meets the BRP criteria, including the application of the “wholly and exclusively” business use test.
- Gain insights into the evolution of BRP, from traditional uses to modern interpretations, supported by case studies and ATO rulings.
The contents of this resource are taken to be correct at the time of publication.
Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association