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Deferred ATO ruling leads to hopes of better NALE approach

The Tax Office’s recent deferral of finalising its ruling around how it will address both non-arm’s length income and expenditure amid COVID-19 has led to hopes within the SMSF industry of a better balance in its approach.

Deferred ATO ruling leads to hopes of better NALE approach
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  • Shared by SMSF Adviser
  • June 05, 2020
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The ATO said recently in PCG2020/5 that it would not allocate compliance resources for a further financial year, 2020–21, to determine whether the NALI provisions apply to a complying superannuation fund where the fund incurred non-arm’s length expenditure of a general nature that has a sufficient nexus to all ordinary and/or statutory income derived by the fund in those respective income years.

Read more at SMSF Adviser

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