Govt rejects SMSF borrowing ban
The Federal Government has rejected a recommendation from David Murray's Financial System Inquiry which sought to ban self-managed super funds from borrowing to buy property, among a number of proposed changes to Australia's $1.8 trillion superannuation system.
Responding to the Murray inquiry today, almost a year after the final report was handed down, the government said it did not agree with the proposal to block limited recourse borrowing arrangements by superannuation funds.
Read the full story at Business Spectator.
