subscribe to our newsletter
Industry heavyweight calls for relaxed SMSF borrowing rules

Industry heavyweight calls for relaxed SMSF borrowing rules

The founder of one of Australia’s largest property groups wants SMSF lending rules to be the same as they are for regular purchasers.

Speaking to delegates recently at the SMSF Members Association conference, Meriton’s Harry Triguboff said SMSFs should be more freely able to use money for housing.

“I would like the rules for SMSFs as far as lending is concerned to be the same as they are for normal purchasers,” he said. “It seems to work for normal purchases very well – it’s not like we have repossessions all the time.”

“People should be able to use the money in their super fund instead of locking it in and not being able to buy a house when they are young.”

Mr Triguboff was also critical of the complexity of an SMSF borrowing from a bank, and the fact that the rules are difference for regular investors and SMSF trustees.

“The banks don’t give money [to SMSFs] because it’s too cumbersome,” he said.

[Related: ATO ‘very concerned’ over SMSF lending]

Industry heavyweight calls for relaxed SMSF borrowing rules
mortgagebusiness logo

Latest News

Legislation has been introduced by the federal government aimed at strengthening the prudential regulator to ensure stability and accountabi...

Australia’s premium housing market has softened more than its more affordable segment, according to the latest CoreLogic Decile Report. ...

Global ratings agency Moody’s has joined a chorus of analysts forecasting tighter mortgage policies as a result of the royal commission’...

Promoted Stories

podcast

LATEST PODCAST: Macquarie merger, WA property tax and AMP staff haemorrhage

Do you expect access to credit to get harder this year?