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Mobbs & Company have a specialised team to assist with all your Self Managed Superannuation Fund needs.

We can assist with all areas of our Superannuation Fund, from setting up your SMSF to preparing your Financial Accounts and Taxation Returns. Our qualified staff are here to assist you; whether it is borrowing through your superannuation or any queries that you may have in between.

You can be assured that we can simplify your affairs and offer you the accurate and professional advice that you need, in a timely manner.

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Accounting News

No Change to Super Fund Borrowing Rules (yet)

  The federal government has announced it does not agree with the Financial System Inquiry’s (FS) recommendation ....

.... to prohibit limited recourse borrowing arrangements (LRBA) by superannuation funds.
 

     

 

At this time there is not enough evidence to justify a major policy change.

What was the mischief?

What is the loss of revenue, if any?

Many advisers of SMSF struggled to find any justification for this perceived problem and it seems that the Government agreed.  Therefore, trustees and financiers can continue with structures that include SMSF borrowing.

The government does recommend the monitoring of LRBAs by the Council of Financial Regulators and the Australian Taxation Office will review any risk associated with LRBAs, and report back in three years.

 

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