Whilst it may have taken us by surprise that there wasn’t much by way of superannuation in this year’s Federal Budget, perhaps in hindsight it was always going to be this way. In January 2023 the Government announced their plans to legislate the ‘Objective of Superannuation’ – this was followed by a period of consultation…
The Federal Budget did little to quell the dissatisfaction with the earnings calculation proposed by the Government in their original ‘Better targeted superannuation concessions’ Fact Sheet and Consultation Paper. We have discussed these in details previously, with a comprehensive overview of the announcement, fact sheet and consultation paper in our previous blog posts that discuss…
It appears within the Federal Budget that the Government has finally landed on how they intend to amend the non-arm’s length income (NALI) rules within s.295-550 of the ITAA 1997 to deal with non-arm’s length expenditure (NALE) that relate to general expenses of a fund. Below is an extract from the budget papers on…
