Proposed Changes to Non-Arm’s Length Income (NALI) Provisions for Super Funds
A Closer Look at the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023
The Government has introduced changes to the non-arm’s length income (NALI) provisions which apply to expenditure incurred by super funds.
This measure is not yet law.
Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 was introduced on 13 September 2023 and will:
- limit the amount of non-arm’s length income arising from a general non-arm’s length expense for self-managed superannuation funds and small Australian Prudential Regulation Authority (APRA) regulated funds to twice the level of a general expense
- exempt large APRA regulated funds from the NALI provisions for both general and specific expenses of the fund
- exempt expenditure that occurred prior to the 2018–19 income year
- apply from 1 July 2018.
To find out more or to discuss this superannuation topic, contact the award-winning team at Intuitive Super team in Toowoomba, Dalby or Chinchilla on 1300 856 064. Read more at https://carrickaland.com.au/smsf/.
Source: ATO
