Penalties for non-arm’s length income – NALI – in superannuation need legislative change before the compliance honeymoon comes to an end next July, said the superannuation leader at CA ANZ, Tony Negline.
Labor needs to act fast on NALI rules
Speaking on this week’s Accountants Daily podcast, Mr Negline said the Coalition had left the problem in Labor’s in-tray.
“Hopefully the new government will make an announcement that they intend to amend the law to bring it back to a more reasonable setting,” he said.
“It has to be by legislation. It’s the only way to solve it properly.”