Non-Arm’s Length Income (NALI)

Proposed NALI/NALE rules for general expenses “particularly problematic”

The Tax Institute has said proposed guidance on the new Non-Arm’s Length Income and Expense rules for general expenses in superannuation funds, released by the ATO, are “particularly problematic”. The ATO has been consulting on draft guidelines for how it will enforce compliance with the new rules expanding Non-Arm’s Length… Read More »Proposed NALI/NALE rules for general expenses “particularly problematic”

Multiple employer SG opt-out, NALI expenses, LRBA in Total Super Balance pass Parliament

A collection of changes to superannuation – including a limited and partial Super Guarantee opt-out, and changes to NALI and LRBAs – have passed the Parliament. The Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019 has passed the Parliament, without amendment. It allows some employees with multiple employers… Read More »Multiple employer SG opt-out, NALI expenses, LRBA in Total Super Balance pass Parliament

ATO warns about 31 January deadline for arm’s length LRBAs

The ATO has reminded SMSF trustees and professionals about the 31 January 2017 deadline to ensure Limited Recourse Borrowing Arrangements (LRBAs) are on an arm’s length basis. #SMSF trustees: Have you reviewed non-arm’s length LRBAs? Don’t forget the deadline is 31 January. Learn more at https://t.co/CaQf7YilBR pic.twitter.com/zXu0FU6wwI — ato.gov.au (@ato_gov_au)… Read More »ATO warns about 31 January deadline for arm’s length LRBAs

ATO issues new ruling on LRBA non-arm’s length income: TD 2016/16

The ATO has issued a new Taxation Determination, TD 2016/16, setting out when a non-arm’s length Limited Recourse Borrowing Arrangement could result in Non-Arm’s Length Income. The ATO has also withdrawn two earlier Interpretative Decisions, ATO ID 2015/27 and ID 2015/28, which dealt with Non-Arm’s Length Income (NALI), as “issue is… Read More »ATO issues new ruling on LRBA non-arm’s length income: TD 2016/16