MFAA gathers SMSF Industry Associations
With Treasury set to review key aspects of the Self Managed Super Fund (SMSF) sector, the Mortgage & Finance Association of Australia (MFAA) has formed a partnership with three other leading Associations in the sector. The aim of the partnership is to ensure the SMSF industry is well represented in the review and the MFAA’s submission to the review is well supported.
The MFAA has partnered with the Financial Planning Association of Australia (FPA), the Association of Financial Advisors (AFA) and the Commercial Asset Finance Brokers Association (CAFBA) to support its submission on SMSF lending. By joining the four associations together, MFAA is hopeful the profile of the submission will be raised.
“Where possible, it is important to provide the Government with a comprehensive submission from the broader industry, rather than multiple small submissions that the government needs to decipher,” said Siobhan Hayden CEO of the MFAA. “The shared voice is critical to demonstrating industry unity and support for key initiatives currently under review.”
Additionally, the MFAA will also make a submission to the government on three key FSI recommendations which impact upon its members. The three FSI recommendations are:
- A prohibition on direct borrowing by SMSFs for a limited recourse borrowing arrangements
- Protecting small business borrowers
- Enhanced competition in the lending sector