NALI and NALE can arise in many cases never before imagined given the ATO's broad construction of s 295-550. Fortunately, the Government is committed to consulting to ensure the NALI/NALE provisions apply as intended. In the meantime, advisers need clarity on what the rules are and where the risks lie so funds are not tainted forever! The NALI/NALE topic focuses on:
- The status of the proposed legislative change and the latest ATO views
- Key risk areas including: specific v. general nexus, related party acquisitions, 'special treatment' for private companies and unit trusts, trustee services and discounts (including for employee share ownership).