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Chartered Accountants Australia and New Zealand superannuation leader Tony Negline takes a closer look at the ATO’s recent announcement on non-arm’s length income and what it means for practitioners and trustees.
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What the ATO’s NALI announcement means
09 April 2021
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8 minute read
Tony tells hosts Aaron Dunn and Jotham Lian how the ATO’s draft law companion ruling means that if an SMSF’s affairs are not structured correctly, then, even for a minor expenditure, all the income of the super fund — ordinary and statutory income — could face income tax at the highest marginal tax rate.
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He also shares his concerns with the legislation underpinning NALI and what he is ideally hoping for ahead of the ATO’s finalised law companion ruling.
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