News : NALI/NALE

Auditing, NALI/NALE

Discounts create NALE audit concern

SMSF fees NALE audit

SMSF auditors still need more information regarding discounted fees and are cautious about their treatment under the NALE provisions.

read more
NALI/NALE

NALE identification an issue

NALE identification SMSF

Identifying and acting upon NALE issues may not be straightforward and the assumption cannot be made the SMSF audit will be the solution.

read more
Auditing, NALI/NALE

Auditors considering NALE protections

SMSF auditors NALE protections

SMSF auditors may seek greater declarations from trustees regarding non-arm’s-length expenditure to prevent litigation in the future.

read more
NALI/NALE

NALE goes beyond related parties

NALE related-party

The non-arm’s-length expenditure rules as defined by LCR 2021/2 are not confined exclusively to related-party transactions.

read more
NALI/NALE, Superannuation

Education can negate NALE

NALE SMSF education

Educating clients about the best compliance practices is likely to be the most effective way of preventing SMSF trustees from breaking the NALE rules.

read more
NALI/NALE

NALE challenges accepted practices

NALE SMSF

All relationships with SMSF service providers considered conventional in the past may now come under scrutiny due to the LCR 2021/2 NALE rules.

read more
NALI/NALE, Superannuation

Financial interest duty unclear on NALE impact

best financial interest NALE

The best financial interest duty remains unclear as to whether SMSF trustees that trigger a NALE event inside their fund will be able to use fund assets to pay the tax bill.

read more
NALI/NALE

Industry marshals NALE arguments

NALE super funds

A group of industry associations will collectively present case studies highlighting the impact of NALE provisions on super funds as part of a push to make changes.

read more
NALI/NALE

Government reviewing NALE impact

SMSFs NALE impact

The government is looking at the impact of NALE provisions on SMSFs and may offer a solution, according to an industry body.

read more
NALI/NALE

NALE cash settlement safer

NALE cash

Paying for SMSF services with cash so as to comply with the non-arm’s-length expenditure rules is unnecessary, but probably more prudent.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.