The next federal election is due to be held in late 2018 or early 2019 and if Labor wins this election it has plans to introduce legislation to stop SMSF lending.
This is a significant change and places uncertainty around SMSF lending until the next election.
In view of the proposed legislation and the likelihood that Labor will win the next election, I would suggest that investors bring forward any plans to borrow in their SMSF before it is too late!
The following criteria will allow for a quick initial self-assessment to determine whether SMSF lending is a suitable investment strategy for you:
- You have $200,000+ in your SMSF
- You are under the age of 55
- You are making regular contributions to superannuation
In case of an early election being called sometime next year, you should have discussions with a SMSF residential or commercial property specialist/broker now or early 2018.
Aaron Fuda
SMSF, Residential & Small Business Mortgage Broker
Omniwealth
t: (02) 9112 4328
m: 0451 178 522
e: aaron.fuda@omniwealth.com.au
www.omniwealth.com.au