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SPAA to issue LRBA best practice guidelines

The SMSF Professionals’ Association of Australia (SPAA) will release best practice guidelines on limited recourse borrowing arrangements for lenders and advisers as one of its key initiatives for 2014.

SPAA chief executive Andrea Slattery said the association had been working with other stakeholders in the area to provide government and regulators with accurate information about the arrangements, which SMSFs used to borrow for investment in real estate and other assets.

“We know [the best practice guidelines] will allow regulators to have confidence to better target their policy settings and also to help inform debate that is so common at the moment about the development of things like property bubbles,” Slattery said.

SPAA will also focus on offering new education courses and initiatives to its members in 2014, having last year built a team to develop and conduct training.

Slattery said the association would actively contribute to the government’s financial system inquiry and tax inquiries, as well as discussions on the challenges brought about by the ageing population and how SMSF capital could be unlocked and used more efficiently for investments in infrastructure and bonds.

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