Labor bans property borrowing in super funds

The Australian government, with Greens support, will ban self-managed superannuation funds from borrowing to purchase residential property in new arrangements 45 days after the budget bill passes. The ban will not affect existing borrowing arrangements, which will be grandfathered, but applies only to future investments. Approximately 50,000 self-managed super funds currently have these borrowing arrangements in place.See omnystudio.com/listener for privacy information.