The bill that will introduce changes to the non-arm’s-length expenditure (NALE) provisions has passed through parliament and is now awaiting royal assent before it can take effect, possibly as early as 1 July.
The SMSF sector experienced healthy growth over the March quarter, with men and women on middle-to-higher incomes driving an increase in new funds established, according to statistics released by the ATO.
Jim Chalmers has handed down the government's third budget, with a $300 power bill boon for every Australian household, but the purse strings kept tight on other measures.