Sarah Abood
The FAAA welcomes the fact that the Federal Government’s proposed changes to CGT and negative gearing in the Budget did not impact superannuation. However it says an unintended consequence is that there is now a substantial tax incentive for Australians who want to invest in established residential property to do so via a Self Managed Super Fund (SMSF) which raises concerns that people will be convinced to do so via high pressure sales tactics without the benefit of financial advice, without a full understanding of the obligations that they are accepting as trustees of a super fund and without appreciating the risks involved with such strategies.
In its submission on the inquiry on the Treasury Laws Amendment (Tax Reform No.1) Bill 2026 (attached), the FAAA make four recommendations to address these concerns.
The FAAA will be presenting at the Senate Economics Legislation Committee public hearing today at 10.30am to further discuss the issues.
