Cooper Grace Ward is proud to announce prestigious international legal research firm Chambers & Partners has listed lead litigation and dispute resolution partner Rocco Russo and his team in its ...
In December last year, the Financial Systems Inquiry (FSI) recommended removing the ability of SMSF trustees to borrow to acquire assets using limited recourse borrowing arrangements. See our legal alert on this issue (SMSFs: Are limited recourse borrowing arrangements on borrowed time? Murray Inquiry recommends abolition!).
In its response to the FSI this week, the government confirmed that they will not ban SMSF limited recourse borrowing. This is a great result and means that SMSFs can continue to borrow with certainty that there will be no change in the law.
Please contact a member of our superannuation team if you would like to discuss this issue further, or limited recourse borrowing arrangements generally.
This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please let us know.
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