QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:52): The advice I have is the Treasury advice that I referenced last week. This is a very small number of new borrowings each year, and the advice I have been given by the Treasury is that less than 10 per cent of self-managed super funds have one of these arrangements for residential property.

Obviously there are transitional arrangements in place, which will mean those will be unaffected. The advice that I think I provided to the chamber last week was that less than one per cent of total residential property borrowing and less than half a per cent of new residential borrowing each year fell into the category of limited recourse borrowing arrangements.