Author: Emma Partenza, Senior SMSF Manager
Just days before the end of 2024 financial year, the Federal Government finally passed the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023, which contains changes to the non-arm’s length expense provisions (Schedule 7). Royal Assent was granted on 28th June 2024.
The industry has been awaiting this legislation for several years. For further details on Non Arm’s Length Expenditure, please read our earlier blog: NALE changes – how could they impact you? – TAG Financial Services TAG Tips.
The passing of this legislation has brought no changes to what was proposed in relation to NALE. It’s important to note that this legislation only addresses general expenses of an SMSF, and not specific expenses – an area which can still be detrimental to a fund if not on an arm’s length, commercial basis.
To deep dive even further into this topic, we invite you to come along and join us at our annual TAG Super Seminar.
At this year’s event, we’ll be unpacking these new rules to help you deliver strategic financial solutions to benefit your clients throughout their lifetime.
You will also have the opportunity to ask us questions, either during the event sessions, panel discussion or networking breaks.
We love the questions and interactions throughout the Super Seminar sessions, as they make the experience more valuable and relatable for all attendees.
And don’t forget, you’ll also earn valuable CPD points that are claimable this financial year!
We hope to see you on Tuesday, 23 July! REGISTER HERE
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Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686). Copyright 2024. Please do not reproduce without the expressed written consent of the author.