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‘Catastrophic consequences’: Government lobbied on NALI rules
The non-arm’s length income rules for superannuation will result in unwarranted and significant detriment to fund members and could operate in conflict with a range of trustee duties, including the best financial interests duty, joint bodies have told the government.
Important detail highlighted in legacy pension draft regulations
While the draft regulations aimed at tackling the excess transfer balance issue are a welcome development, SMSF trustees will have to hope the ATO releases the excess notice determination quickly to avoid interest building up, according to Heffron.
Vaccination rates (Dose)
61.4% of the world population has received at least one dose of a COVID-19 vaccine. 10.2 billion doses have been administered globally, and 18.22 million are now administered each day. Only 10% of people in low-income countries have received at least one dose.
Excuses limited for late death benefit payments
The ATO will only recognise limited reasons offered by trustees as an acceptable excuse for not paying a death benefit within the standard timeframe.
State and Federal COVID-19 support — January 2022
The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.



























