Westpac slams brakes on SMSF specufesting

Tuesday 27 June 2017

Via the AFR:

Westpac Group is set to whack self-managed superannuation fund property investors with tougher rates, policies and processes in the lead up to this weekend’s changes to caps on lucrative tax concessions being imposed by the federal government.

The changes will also coincide with the Westpac and subsidiaries, Bank of Melbourne, BankSA, St George, slugging interest-only property buyers with 34 basis point rate increases.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.