SMSF no longer to be able to borrow for residential property

Self managed superannuation funds will no longer be up allowed to borrow to buy residential properties under new rules that have come out of parliament today. In the past self managed superannuation funds were allowed to utilise a non-recourse borrowing arrangement to purchase residential property and in a deal made with the greens they’ve pushed for this Superannuation change to Help get the budget changes past in its entirety in the Senate. You still will be able to purchase residential investment property within the self-managed superannuation fund. You just will not be able to use boring to facilitate the purchase. Commercial property at this point will not be affected. General advice only. #superannuation #smsf #propertyinvestment #investing #retirementplanning