The Institute of Financial Professionals Australia (IFPA) opposes the Government’s decision to ban new limited recourse borrowing arrangements (LRBAs) for residential property held inside SMSFs. IFPA notes that this was to get the Greens support for its tax reform package and according to the Government, help protect retirement savings.
“We do not think this reasoning supports a ban on new residential LRBAs,” said Stuart Sheary, Head of Technical Services, IFPA.
Read the media release here.