Joint – CAANZ CPA IPA SMSFA – Senate Standing Committees on Economics_Treasury Laws Amendment Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023, Schedule 7: Non-arm’s length expense of superannuation funds

Chartered Accountants Australia and New Zealand, CPA Australia, Institute of Public Accountants, SMSF Association and The Tax Institute (together, the Joint Bodies) welcome the opportunity to provide feedback on the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 (the Bill) which was introduced into Parliament on 13 September 2023. Our comments relate solely to the proposed non-arm’s length expenses (NALE) rules for superannuation funds contained in Schedule 7 to the Bill. We do not comment on the other parts of the Bill in this submission.

The Joint Bodies do not endorse the measures contained in Schedule 7 to and recommend its removal from the Bill.

Read the full submission below.