The Financial System Inquiry’s recommendation to abolish the ability to leverage debt within self-managed super funds has been lambasted by a wealth advisory group. Chan & Naylor said at a time when Australia faces “falling living standards” and a “ticking time bomb” in the form of an ageing population, the FSI’s recommendation to clamp down on SMSF borrowing is “unhelpful and self-defeating counsel that ignores Australia’s future retirement needs and reflects the ongoing hypocrisy of the broader financial services sector”.
Posted on: Fri, 12 Dec 2014 06:36:22 +0000
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