About the Webinar
In the current environment with community debate on the level of tax concessions for superannuation and large SMSF balances, there is increased focus on non-arm’s length transactions that bolster SMSF assets. The ATO has a new weapon in its armoury, whereby expenditure incurred by a super fund under a non-arm’s length arrangement can trigger the NALI provisions. Even a minor breach currently has the potential to subject an SMSF to the highest marginal tax rate. This session drills down on how the NALI rules now apply in practice, including:
- How the NALI rules can have application to services provided by:
- accountants and fund administrators
- financial advisers
- How a minor breach could subject a fund’s income, including capital gains, to the top marginal tax rate, even if in pension mode, and the proposed legislative changes to address this
- Can a breach for an under market value expenditure transaction be rectified by accounting for an in specie contribution journal entry?
- The challenges for SMSFs participating in start-up entities involving members
- How the market value substitution rules will apply
- What is the ATO’s compliance approach?
- Practical examples, including two unrelated SMSFs equally owning units in a unit trust with related party lending on non-commercial terms – what is the NALI effect?
Ian BurgessPartner, Ernst
Who Should Attend?
This webinar is suitable for accountants advising in superannuation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.
Accountants can claim up to 1 CPD/Training hour . This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.
If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]