Preheat oven to 375°F (190°C).
Cook macaroni in a large pot of boiling, salted water until al dente, about 8 minutes. Drain and set aside.
In a separate large pot, heat oil over medium heat. Add beef and onion; cook, breaking up beef with a wooden spoon, until beef is browned and crumbly, 5 to 7 minutes. Drain off grease.
Stir in corn, tomato sauce, ketchup, water, chili powder, sugar, and seasoned salt. Bring to a boil, then reduce heat to medium-low and let simmer for about 10 minutes or until slightly thickened.
Mix macaroni into the beef mixture, then transfer to a 2-quart baking dish. Top with Cheddar cheese.
Bake in preheated oven for 10 to 12 minutes or until the cheese is melted and bubbly.
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