The SMSF Professional Association of Australia (SPAA) has released guidelines of disclosures that should be made to trustees of a SMSF by lenders.
Your bank should explain to you the advantages and disadvantages of Limited Recourse Borrowing Arrangements. They also need to explain to you what happens in the event of a default on the loan.
If you have any questions or concerns about your SMSF borrowing arrangement, contact our Business Lawyer Parramatta who can provide comprehensive advice and assistance.
Phillip Brophy – email@example.com or 9635 7966