The federal government will consult “with an open mind” on the future of limited recourse borrowing arrangements and talk to all stakeholders before making a decision, according to Assistant Treasurer Josh Frydenberg.

Changes made late last year to the draft legislation tabled in parliament governing the refund of excess non-concessional contributions (NCC) have provided further clarity on how the rules will operate and a positive result for SMSF trustees already drawing a pension.