Miscellaneous 2022

Non-arm's length income - the important changes, must know issues and key strategies

Source: QLD

Published Date: 24 Nov 2022

 

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The ATO has adopted an extremely broad view on what is NALI. There is also the potential for certain amounts to be both NALI and a contribution. The ATO are still consulting on the difference between what might be NALI versus a contribution. There is now currently considerable uncertainty on many common place strategies which we will seek to clarify. This paper provides an overview of:

  • NALI/NALE - the key risks and latest developments
  • NALE with specific expense versus general expense nexus
  • What can a trustee do without invoking NALI
  • The ATO's latest views on what is a contribution versus NALI (consultation draft ruling TR 2010/1-DC)
  • SMSF purchase 50% of business real property from a related party and the related party contributes the remaining 50%
  • What documentation is required to minimise risk.
Author Profile
Bryce Figot CTA

Author Profile
Shaun Backhaus

Author Profile
Daniel Butler CTA

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Non-arm's length income - the important changes, must know issues and key strategies

Author(s): Daniel Butler CTA , Bryce Figot CTA , Shaun Backhaus

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Miscellaneous 2022

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