News : NALI/NALE

NALI/NALE, Regulation, Tax

NALI tax allocation has flexibility

NALI Tax penalty SIS Regulations Accurium Mark Ellem Anthony Cullen

SMSF trustees cannot rely on the SIS Regulations to determine whether a NALI liability has to be allocated to a particular superannuation interest.

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ATO, NALI/NALE

PCG 2016/5 doesn’t define NALI compliance

Safe harbour PCG 2016/5 NALI non-arm's-length income LRBA Limited recourse borrowing arrangement SMSF Self-managed superannuation ATO Paul Delahunty

Not satisfying the LRBA safe harbour rules defined in PCG 2016/5 will not necessarily trigger the non-arm’s-length income provisions.

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ATO, NALI/NALE

Recent rulings positive for NALE cases

NALE Non-arm's length expenditure ATO SMSF Accountants

Accountants using their professional permits when performing work for their own fund without charge will not necessarily trigger the NALE provisions.

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NALI/NALE, Regulation

NALI can taint all capital gains

NALI Non-arm's-length income TD 2024/5 Capital gains tax CGT

An example included in TD 2024/5 has shown how the NALI provisions can affect all SMSF capital gains realised in a particular income year.

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Legislation, NALI/NALE

Parliament passes NALE bill

NALE Senate House of representatives Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 Parliament Stephen Jones

Changes to the NALE provisions will become law, with only the question of when they will take effect yet to be answered.

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NALI/NALE

NALE bill lag creates huge risk

NALE non-arm's length expenses PCG 2020/5

SMSF trustees cannot rely on PCG 2020/5 from 1 July 2023 to avoid a severe tax penalty should they incur non-arm’s-length general expenses.

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ATO, NALI/NALE

Tax determination troublesome for SMSFs

ATO tax determination SMSF NALI CGT

The ATO taxation determination outlining how the NALI and CGT rules interact is potentially problematic for SMSFs.

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ATO, NALI/NALE

Hint of NALE enforcement given

ATO NALE private binding ruling

Two private binding rulings issued by the ATO in the past six months have hinted at how the NALE rules for general expenses will be applied.

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ATO, NALI/NALE, Tax

NALI interest ruling overturned

NALI interest income AAT

The AAT has ruled interest derived from a complex lending arrangement established by an SMSF trustee was not NALI despite the arrangements being at non-arm’s length.

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ATO, Compliance & Regulation, LRBA, NALI/NALE, Superannuation

ATO issues scheme warning

ATO early release scheme

The ATO has warned SMSF members to avoid early release and tax avoidance schemes noting many of these are related to property and lending within a fund.

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