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.
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