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…
Details
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…
Details
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…
Details
CPD member? Login to the platform to watch the webinar and complete the assessment to receive your CPD certificate. Not a member? Find out more about our CPD packages to access more information to keep you up-to-date and to grow your SMSF knowledge. With the Government having already announced changes to superannuation prior to…
Details
As we approach 30 June many clients will be wanting to maximise not only the amount they can contribute to superannuation but also the maximum deduction they can claim on their personal contributions. For what it’s worth, there is no maximum amount that can be claimed but there is a maximum amount before the excess…
Details