• Advocacy and Media
  • Advocacy and Media

Joint submission on superannuation non-arm’s length income rules

  • September 03, 2021

Tax and Super Australia is part of a larger industry group (The Joint Bodies) which is in ongoing consultation with the ATO and Treasury. The Joint Bodies wrote to Senator Jane Hume, Minister for Superannuation, Financial Services and the Digital Economy in early September 2021 seeking urgent amendment to the superannuation non-arm’s length income (NALI) provisions.

One of the main aims of this larger working group is to remove unintended NALI provisions. Rather than NALI applying blanketly to all income tainted by non-arm’s length dealings, The Joint Bodies believe that NALI should apply proportionately.

The Joint Bodies making this request were:
• Chartered Accountants Australia & New Zealand
• CPA Australia
• Institute of Public Accountants
• The Tax Institute
• Australian Superannuation Funds Association
• SMSF Association
• National Tax and Accountants Association
• Self-Managed Independent Superannuation Funds Association
• Financial Planning Association of Australia
• Tax & Super Australia
• Actuaries Institute

Read the full joint submission here.