Financial System Inquiry

December 08, 2014
Bob Korver

Yesterday's report contained 44 recommendations for the Government to now consider. It intends to consult with industry and the regulators prior to 31st March next year before deciding whether to adopt any of the recommendations. One of those recommendations is to abolish limited recourse SMSF loans - with the exception of temporary liquidity purpose loans. Negative gearing, capital gains concessions & dividend imputation all came in for criticism and as expected it's going to be a very busy & interesting next few months!

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