SMSF Association Submission – Joint Submission – Draft Tax Determination TD 2023/D1: Non-arm’s length income and capital gains tax provisions

Chartered Accountants Australia and New Zealand, CPA Australia, the Institute of Public Accountants,
the SMSF Association and The Tax Institute (the joint professional bodies) have been working with
the Australian Taxation Office (ATO) for many years in relation to the superannuation fund non-arm’s
length income and expense (NALI/E) provisions.

In late 2021, the joint professional bodies, together with a number of other associations, submitted to the ATO a range of questions and concerns involving the superannuation fund NALI/E income provisions. A number of those issues involved how those provisions interact with the capital gains tax (CGT) provisions.

We are pleased that the ATO has commenced work on this matter and appreciate the opportunity to comment on the above draft Taxation Determination (draft TD).

Read the full submission below.