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Important clarifications for super fund borrowings.

Publication date: 25 Jun 10 | Source: CCH TAX WEEK

Issue: Issue 24 17 June 2010

Pages: pp. 1-3

In September 2007, the super fund borrowing prohibition was given an exception, which allowed super funds to borrow on a limited recourse basis. This exception is commonly referred to as the "instalment warrant" exception. Since then, there has been a significant increase in the use of this arrangement by super funds to acquire assets (especially real estate). Several areas of concern have however been identified. These concerns raised a need for parliament to review and amend the current law.

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Author profiles

Bryce Figot CTA
Bryce is a Director at leading SMSF law firm DBA Lawyers. He practices predominantly in taxation and superannuation law, particularly the law of SMSFs. He is regularly quoted and published in the Australian Financial Review, the Herald Sun, CCH and LexisNexis publications, and elsewhere in the financial press. He presents extensively to accountants, financial planners and lawyers Australia-wide. Bryce has worked with DBA Lawyers since 2003. He holds both a bachelor degree and a masters degree in law and is an accredited Specialist SMSF Advisor. - Current at 10 December 2015
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