Not so NALI

It wasn’t necessarily the outcome that the SMSF industry strategy was hoping for, but we have seen the Australian Taxation Office (ATO) finalize its public guidance, LCR 2021/2, on the application of the NALI provisions where expenditure is incurred under a non-arm’s length arrangement. It has arguably been one of the most consulted public rulings…

How director IDs will impact the SMSF sector

We have seen Treasury release for consultation, the ‘Modernising Business Registers (MBR) Program’ on 12 March 2021, which will unify the Australian Business Register (ABR) and 31 business registers administered by the Australian Securities and Investments Commission (ASIC) onto a single platform. This platform will be administered by the Commonwealth Registrar (the Registrar) under legislation…