December 08, 2014
On Sunday 7 December the long awaited Murray Report was released.
Of specific interest to SMSF borrowers was the recommendation that SMSF's be banned from borrowing to buy assets such as shares or property.
No doubt there will be much commentary in the following weeks on this topic but it is important to remember when viewing the commentary that the Murray Report is a recommendation to the Government and it will be up to the Government to decide if it wants to enact the recommendation into Legislation.
For those borrowers considering gearing within a SMSF, it would appear wise to be cautious and to consider the implications of the Murray Report before committing to borrowings within a SMSF .