News : NALI/NALE

NALI/NALE, Tax

Clarity sought on NALI/CGT ruling

SMSFA NALI CGT

The SMSF Association has called on the ATO to clarify the draft ruling on the interaction between NALI and the CGT regime.

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ATO, NALI/NALE

ATO highlights property, lending scheme danger

ATO property lending 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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ATO, NALI/NALE, Tax

ATO releases draft NALI, CGT determination

NALI CGT determination

The ATO has released a draft determination on how it will measure NALI inside capital gains that result from non-arm’s-length dealings.

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NALI/NALE

New bill may provide NALE fix

NALE bill

A solution to one NALE issue could potentially be provided by the interaction of the bill tabled in parliament last week and TR 2010/1DC.

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NALI/NALE

Guidelines useful in navigating NALI

NALI guidelines

SMSF practitioners should follow two straightforward rules of thumb to ensure NALI compliance when engaging in property development projects.

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NALI/NALE

Govt releases NALE draft bill

NALE draft bill

The government has released a draft bill detailing its handling of non-arm’s-length expenditure, with the SMSF Association claiming current laws already address the issue.

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NALI/NALE, Property

Compliance risks with property developments

NALI property development

SMSFs risk tainting an entire property development project with NALI if they at any point use non-arm’s-length arrangements that give the fund an advantage.

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ATO, Compliance, NALI/NALE, Property

SMSF projects probed for NALI breaches

SMSF property NALI

The ATO has cautioned SMSF trustees and advisers about potential NALI breaches in property development projects and, in an unrelated announcement, disqualified over 200 SMSF trustees.

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ATO, Compliance, NALI/NALE

NALI statutory income guidance pending

NALI statutory income

The ATO is believed to be developing guidance for release this month on the calculation of statutory income that will be viewed as NALI.

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Compliance, NALI/NALE, SMSF

NALE penalty appropriate, but needs clarity

NALE penalty level

The update to the NALE penalty in the 2023 federal budget is a reasonable approach, however, further clarification is needed on what defines a NALE compliance breach.

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