News : NALI/NALE

NALE materiality still not clear

July 19, 2023

SMSF auditors will be tasked with deciding when non-arm’s-length expenditure is reasonable despite the lack of certainty on the issue but may find a solution exists in current ATO guidance.

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NALI/NALE, Tax

NALI-CGT determination provides clarity

July 17, 2023

Todd Wills

A recently issued tax determination has clarified the treatment of capital gains where non-arm’s-length transactions are conducted and offers practical outcomes for SMSFs.

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NALI/NALE

NALE bill can’t fix broken model

July 12, 2023

Jason Spits

The draft bill to alter the NALE provisions is building on a flawed model, creating more problems, with a collective of industry bodies unwilling to support it.

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NALI/NALE

NALE fix involves fair value proof

July 11, 2023

Jason Spits

The government’s draft bill to implement a NALE tax regime will force SMSFs to prove their expenses are at market value.

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Compliance, NALI/NALE, Regulation, SMSF, SMSFA

Repeal NALE or fix related issues

July 10, 2023

Jason Spits

The SMSF Association has called on the government to repeal the NALE provisions or provide solutions to further problems they will create.

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NALI/NALE, Property

Undervalued trust units a NALI risk

July 6, 2023

Jason Spits

SMSFs purchasing low value stakes in interposed entities to develop property will need to prove they were at market value to avoid breaching NALI provisions.

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NALI/NALE, Tax

Clarity sought on NALI/CGT ruling

July 3, 2023

Todd Wills

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

July 3, 2023

Jason Spits

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