ATO extends relief on NALI provisions for non-arm’s length expenditure

The Australian Taxation Office (ATO) has announced that it has updated Practical Compliance Guidance, PCG 2020/5 – Applying the non-arm’s length income provisions to ‘non arm’s length expenditure’ to extend their compliance approach by another 12 months to 30 June 2023. Prior to the Federal Election we saw the Senator Jane Hume announce that the…