Gareth CroyPanelist
Nick SelbiePanelist
Trent CrippsHost
Bodie SimpsonPanelist
So we've been waiting for six weeks for confirmation as to what we're actually dealing with.

So lots of horse trading, lots of changes to finally get to, well, what are we actually dealing with? Yeah.

I mean, there's lots to unpack in terms of what we thought would be in, how that changed and evolved as there was negotiations as to getting other parties to push this through both the lower and upper house.

So there is a couple of little nuggets in there, which is the second round of legislation, which we're still waiting on to come through, which was really the things that they couldn't thrash out while they were trying to push through the major changes.

So there are a couple of property things which are going to be really important, particularly what is the definition of new residential property? We still don't know.

Personally not really sure how this helps with housing supply, and I'm sure you've got views on that.

But yeah, so last minute to get the green support through the Senate, the government had to concede to banning limited recourse borrowing arrangements, which is a fancy way of saying using borrowed funds to settle the purchase of a residential property.

But from the 10th of August, we won't be able to use borrowed money to settle on purchasing property inside a self-managed super fund.

Yeah, well, look, just for context, I'm actually going to put on my glasses, sorry.

So There's approximately 1.2 million Australians or members across 663,000 self-managed funds in Australia.

The Australian residential property is valued as a total residential property category is valued at over $12.6 trillion.

So we've been waiting for six weeks for confirmation as to what we're actually dealing with.

So lots of horse trading, lots of changes to finally get to, well, what are we actually dealing with? Yeah.

I mean, there's lots to unpack in terms of what we thought would be in, how that changed and evolved as there was negotiations as to getting other parties to push this through both the lower and upper house.

So there is a couple of little nuggets in there, which is the second round of legislation, which we're still waiting on to come through, which was really the things that they couldn't thrash out while they were trying to push through the major changes.

So there are a couple of property things which are going to be really important, particularly what is the definition of new residential property? We still don't know.

Personally not really sure how this helps with housing supply, and I'm sure you've got views on that.

But yeah, so last minute to get the green support through the Senate, the government had to concede to banning limited recourse borrowing arrangements, which is a fancy way of saying using borrowed funds to settle the purchase of a residential property.

But from the 10th of August, we won't be able to use borrowed money to settle on purchasing property inside a self-managed super fund.

Yeah, well, look, just for context, I'm actually going to put on my glasses, sorry.

So There's approximately 1.2 million Australians or members across 663,000 self-managed funds in Australia.

The Australian residential property is valued as a total residential property category is valued at over $12.6 trillion.
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