Senate debates

Thursday, 25 June 2026

Bills

Treasury Laws Amendment (Tax Reform No. 1) Bill 2026, Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026; In Committee

12:41 pm

Photo of Katy GallagherKaty Gallagher (ACT, Australian Labor Party, Minister for the Public Service) | Hansard source

I understand that some there have been some accountants who say they use this in a particular set of circumstances. I mean, I haven't actually seen the gender breakdown of limited recourse borrowing, but, as I understand it, buyers of about 4,000 properties per year, a very small percentage of the residential market, utilise limited recourse borrowing arrangements. And I should say, SMSFs are still able to purchase residential properties. The change here is that they can't borrow to purchase residential properties. We're responding, in fact, not only to the issue of the Council of Financial Regulators but also of the Murray inquiry, which found that these arrangements can represent a significant risk to some individuals' retirement savings, particularly when they have low-balance SMSFs with high asset concentration or personal guarantees. As Minister for Women, when I talk with women's organisations—

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