The Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024External Link has now received Royal Assent.
Changes to the non-arm's length income (NALI) provisions applying to super funds take effect from 1 July 2024. The changes:
- limit the amount of NALI arising from a non-arm's length general expense for small APRA regulated funds to twice the difference between the actual expense and the expected market rate of the expense
- exempt large APRA regulated funds from the non-arm's length expenditure (NALE) provisions for both general and specific expenses of the fund, and confirm the remaining NALI rules continue to apply
- exempt the application of the NALE provisions, as amended by the Act, for expenditure that occurred prior to the 2018–19 income year
- apply from 1 July 2018.
You can find out more about non-arm's length income on our website.
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