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Review of borrowing in super could be useful
A Government review of borrowing within superannuation has become necessary, according to Institute of Chartered Accountants (ICAA) superannuation specialist Liz Westover.
Writing in the ICAA's Charter publication, Westover said that while the new Government had committed to no unexpected adverse changes to superannuation, there was nonetheless an industry expectation that a review would occur.
"The industry, however, has been largely expecting a review of borrowing for some time now, off the back of the Cooper Review and Stronger Super reforms," she wrote.
Westover said that together with warnings from a number of sources, a review of borrowing had become necessary.
"A review will identify the relative substance of warnings and risk areas and assess whether changes are warranted," she said. "We can then move forward with eyes wide open about the impacts of borrowing in super and hopefully implement appropriate changes to avoid any potential disasters down the track."
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