This article is more than 24 months old and is now archived. This article has not been updated to reflect any changes to the law.
All the publications reviewed in this ClearLaw, show that — particularly in relation to SMSFs and borrowing — important aspects of the regulatory approach are becoming clearer. And the new federal Government and the ATO seem to be singing the same tune.
For those interested in limited recourse lending, the regulatory approach is moving in the right direction.
Taxpayers and their advisers should always exercise caution. As the detail in this particular area continues to be completed, the need for caution applies particularly to the area of limited recourse borrowing by SMSFs.
Only time will tell whether the commonality of thinking between the new Government and the ATO concerning SMSFs will translate into changes to the new borrowing rules. Perhaps the budget on 13 May 2008 will give us a clearer picture.
Questions?
If you have any questions in relation to this article, or trusts, superannuation or tax generally, please call Maddocks in Melbourne on (03) 9288 055 or in Sydney on (02) 8223 4100 and ask for a member of the Maddocks Commercial Team.
Lawyer in Profile
Partner
+61 3 9258 3864
julian.smith@maddocks.com.au
Qualifications: BA, LLB, Monash University, LLM, University of Melbourne
Julian is a Partner in Maddocks Commercial team. He advises a diverse range of clients across the Australian commercial and financial services landscape.
Julian's corporate practice spans various sectors, including financial services, professional services, and family-owned enterprises. He advises on:
- capital raising,
- disclosures,
- restructures,
- mergers and acquisitions,
- corporate governance,
- directors' duties, and
- trusts, corporations, and securities law.
Julian's financial services practice involves advising financial market participants on the entire financial services lifecycle including fund structuring, management options, and compliance with regulatory requirements.
Julian also offers guidance on alternative and disruptive financial services businesses, such as online foreign exchanges, internal markets, and management rights schemes.
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