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Changes to Borrowing Using your Superannuation

By Robert Kirk

As a result of the Murray Enquiry, there's been a number of recommendations regarding the axing of any further lending for property using money in Super.

It's starting to look very likely that the Government may adopt the recommendations and restrict any further borrowing (SMSF loans). If this becomes a reality, the dates we're hearing are March or April 2015.

David Murray's financial system inquiry recommends banning limited recourse borrowing because of concerns it could, over time, increase risk in the financial system.

It recommends any ban be only on future sales, rather than forcing funds to unwind existing property holdings.

Purchasers are encouraged to act now if a property purchase using a bank loan is part of the investment strategy. Keep in mind that properties that include the lucrative tax free NRAS incentive are also running out. Single contracts are available for properties in Broome and Rockingham.

Disclaimer: Accessing and using any information from this site is on the condition you read and agree to the following. Before making any financial commitment to any property you should seek professional advice from a qualified and registered financial advisor. While every attempt is made to keep the information accurate and current, this site should be used to locate properties of interest to carry out further investigation as to the viability and suitability of the investment property to your personal situation. Indicative returns on investment are just that ‘indicative’ being based on information provided from third parties in regard to sale price and expected rent to be obtained. They are not deemed to be the final return once all other costs e.g legal fees, stamp duty, rental fees, utilities connections and the like associated with buying a new home are added in. Using links from this site to other web sites and the like means you are accessing information from sites we have no control over, we will not be held liable for any loss incurred from the use of information from this site and outbound linked sites. Management of Empower Housing Group and Empower Housing Group WA April 2014.

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