Opinion
What is being forgotten is that the goal behind the change was to target SMSFs that enter borrowing arrangements with related parties on non-arm’s-length terms.
New non-arm’s-length expense (NALE) rules have become an administrative nightmare for self-managed super fund trustees and advisers.
They were introduced in October 2019 (and backdated to July 1, 2018) to address perceived deficiencies in the non-arm’s-length income (NALI) provisions.
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Original URL: https://www.afr.com/wealth/personal-finance/trustees-trapped-in-nightmare-of-new-expense-rules-20230711-p5dnik