The committee, which will be led by the AIOFP, will consist of a number of the association’s SMSF-specialist advisers as well as representatives from the National Tax and Accountants’ Association (NTAA), with meetings slated to commence early next year.
The group will be chaired by Pinn Deavin and AIOFP director and NTAA member Michael Pinn, and will include NTAA member Michael Gilmour, Interprac head of compliance Michael Butler, and Shartru chief executive Rob Coyte.
AIOFP executive director Peter Johnston said the meetings will be a strong opportunity to engage and provide feedback to the ATO, which also oversees the Tax Practitioners Board.
“ATO assistant commissioner Kasey McFarlane has welcomed the initiative to develop a dialogue with the advisory fraternity at our recent conference on Hamilton Island,” Mr Johnston told stakeholders in an email seen by ifa.
“We have also taken the opportunity to include our politically aligned association associate the NTAA to join us on the panel in both brand and presence. The AIOFP and NTAA share members and a similar industry vision.”
A representative for the ATO would not comment on the specifics of the meetings, but confirmed the regulator would be meeting with the AIOFP and NTAA representatives as part of its stakeholder engagement plan.
“We look forward to continuing to work with industry groups and other stakeholders on issues of importance to self-managed superannuation trustees and beneficiaries,” the spokesperson said.
Why reinvent the wheel. The SMSF org does a perfectly respectful and valued job in this regard?
This suggests a recognition by the ATO of a failure on the part of FPA and AFA to properly and adequately represent advisers.
The FPA represents AMP and the large banks planners only. The ATO, ASIC, Treasury and both sides of parliament know they receive payments from these product manufacturers via the professional partner program so they aren’t interested in their say in this particular matter. Opt in is a classic outcome of this sort of relationship. Most of the FPA submissions to Treasury are just cut and pasted from AMP so FPA members should not be upset they are just looking for a different and refreshing side of the story that’s all.