Non-Arm’s Length Income (NALI)
The focus of this campaign is likely the non-reporting, or under-reporting, of distributions to SMSFs from discretionary trusts. Read More »ATO preparing to contact SMSFs about NALI
It is unclear where the idea for 0% interest rate LRBA started, through the June 2012 meeting of the superannuation technical National Tax Liason Group was likely a key point. In this meeting the ATO was asked if zero interest rate LRBAs would breach the borrowing rules. The answer was no, but the minutes do not record if the discussion included consideration of the Non-Arm’s Length Income (NALI) rules.