- Advocacy
SMSF Association Submission
Generally, we are concerned by the proposed changes regarding limited recourse borrowing arrangements (LRBAs) which will affect self managed superannuation fund (SMSF) trustees and their advisers. Implementing the proposed amendments with a 1 July 2017 start date does not allow adequate time for SMSF trustees to adjust strategies for existing LRBAs and we are concerned by the complexity and potential unintended outcomes of the proposed changes.
We support the proposed amendments regarding transition to retirement income streams (TRIS) where a TRIS holder satisfies a nil chasing restriction condition of release to ensure their tax treatment is the same as an account based pension (ABP) but believe a simpler approach can be taken to achieve the policy outcome.