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‘New players’ creeping into tax advice, TPB’s boss finds

27-Mar-2018 Jotham Lian, Accountants Daily

The Tax Practitioners Board (TPB) has revealed some findings of a major review of the tax profession, saying that professionals should brace themselves in years to come for entrants which have traditionally been peripheral to tax advice, like advisers, conveyancers and even real estate agents.

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HR key for accountant advisory arms

27-Mar-2018 Darin Tyson-Chan, Self Managed Super

Finding the right people is the critical element for accountants who want to build a successful financial planning arm within their existing practice, according to the head of a specialist business partnership group.

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Rethink the SOA, urges compliance expert

26-Mar-2018 Killian Plastow, IFA

Advisers need to shift their thinking around the structure and purpose of their SOAs to improve client engagement and compliance outcomes, according to compliance consultancy Assured Support.

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SMSF boom shows sign of waning

22-Mar-2018 Tahn Sharpe, Professional Planner

Three-quarters of advisers says there are more self-managed superannuation funds than necessary, according to a live poll taken at the Conexus Financial Post Retirement Conference in Sydney. The vote was held during a session discussing the ongoing recommendation of SMSFs, and whether advisers are doing enough to identify and quantify the benchmarks for SMSF appropriateness.

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Licensing not accountants’ biggest challenge

21-Mar-2018 Darin Tyson-Chan, Self Managed Super

Complying with the licensing regime now applying to accountants wanting to service SMSF clients with financial advisory services has not been the largest hurdle for these practitioners to successfully transition their businesses, a specialist licensing consultant has said.

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New mandatory training ‘not reasonable’ for SMSF professionals

21-Mar-2018 Katarina Taurian, SMSF Adviser

SMSF professionals operating under a limited licence will have to complete the same training as those under a full licence under incoming education laws, sparking furious reactions from accountants fatigued by ongoing changes to the AFSL regime.

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Accountants’ ‘extensive’ knowledge brushed over in new laws

21-Mar-2018 Katarina Taurian, Accountants Daily

Mandatory new education requirements for accountants providing advice have been slammed for dismissing accountants’ years of training and making limited distinction between accountants and financial planners.

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Further education likely for accountants under new laws

20-Mar-2018 Katarina Taurian, Accountants Daily

An update to the incoming education standards for financial advice indicates fully qualified accountants are unlikely to have met mandatory minimum training levels.

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FASEA opens consultation on education pathways

20-Mar-2018 IFA

The adviser education standards authority has issued an update to its proposed guidance on education pathways for advisers and the code of ethics, opening both to a public consultation process.

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Small business retirement exemption under threat

19-Mar-2018 Miranda Brownlee, SMSF Adviser

A proposed change to div 152 ITAA 1997 may severely limit the ability to make contributions into super under the CGT small business concessions where business real property is held in a safe harbour entity, warns an industry lawyer.

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