The same piece of legislation that introduced a 12-month SG amnesty also clears up one small area of concern for accountants and other practitioners who are also members/trustees of their own SMSF.
The legislation, Treasury Laws Amendment (2018 Superannuation Measures No 1) Bill 2018 (read it here) covers the amnesty but also deals with employees with multiple employers, LRBAs, and the non-arm’s length income (NALI) provisions. These aim to quash situations where parties enter into transactions that are not run on commercial terms (and so gain an advantage). Readmore
