NALI

The federal government is seeking feedback on proposed changes to rules aimed at preventing non-arm’s-length transactions by superannuation funds, in a bid to address concern that SMSFs and smaller funds that breach the provisions could be disproportionately penalised.

The Australian Taxation Office needs to provide greater clarity about its announcement that it will not take compliance action if a self-managed super fund landlord gives a tenant a temporary rent reduction to a related party, a leading SMSF consultant says. The executive manager of SMSF technical services at SuperConcepts, Mark Ellem, says the ATO…