Chartered Accountants Australia and New Zealand notes that current NALI provisions have been the source of considerable concern for the superannuation sector since their amendment in 2019. These concerns need to be addressed as a matter of urgency.

We believe the current (as amended) version of the NALI provisions is an unnecessary overreach and we request that the Government considers amending the non-arm’s length provisions to reverse the 2019 amendments. This is our view notwithstanding the Government’s proposed changes to the NALI provisions as set out in the Consultation Paper.