Powered by MOMENTUM MEDIA
subscribe to our newsletter

Govt keeping 'an open mind' on SMSF lending

Assistant treasurer Josh Frydenberg has given insight into areas the government may be exploring as it assesses the Financial System Inquiry's recommendation to ban borrowing in super.

Speaking at the SMSF Association’s national conference in Melbourne last week, Senator Frydenberg acknowledged that the future of borrowing in superannuation is an “important and sensitive” issue for the SMSF sector.

“However, we do need to get the policy setting right and bear in mind that a valid consideration is that super is intended to generate a reliable and sustainable retirement income,” he said.

Senator Frydenberg said the government intends to consult on this recommendation with “an open mind” and added that the government’s intention is to explore “the full range” of options in this area.

“For example, should personal guarantees by self-managed super fund trustees be banned?” he said.

Advertisement
Advertisement

PROMOTED CONTENT


“Should we be doing more to improve the standards of advice given to SMSF trustees considering leveraged investments?

“These are all important issues for the industry to continue to provide government with their views.

“We will consult with all parties to ensure that we are in a position to make a fully informed decision that serves the best long-term interest of consumers and delivers a financial system which is as resilient as possible to economic and financial shocks.”

Govt keeping 'an open mind' on SMSF lending
mortgagebusiness

Latest News

The financial services regulator has released examples of how the incoming rules for add-on insurance will work for CCI, among other credit ...

The major bank has said that it is committed to the sale of its Pacific businesses despite a competition regulator knocking back their propo...

A prime residential lender has announced the pricing of one of its largest prime residential mortgage-backed securities to date. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.