An amended version of Tax Agent Services Act (TASA) legislation, featuring a 12 month implementation extension for financial advisers, has passed the House of Representatives.
The Bill was fully considered by the Federation Chamber and then sent back to the lower house where it was read a third time and passed.
The Bill’s passage follows the introduction of amendments by assistant treasurer David Bradbury this morning, which saw a 12-month extension granted to financial planners in complying with the laws.
Shadow minister for financial services Senator Mathias Cormann welcomed the passage of the changed TASA Bill, claiming it shows the government has acquiesced to the Coalition's demands.
"That is despite their initial attempt to ram this legislation through the House of Representatives without even a parliamentary committee inquiry," he told ifa.
"A competent government would have seen the sense in our proposals straight away – but as they say, better late than never."
InterPrac advisers are joining the AIOFP in a move funded by Sequoia director Garry Crole.
The Association of ...
The Quality of Advice Review (QAR) aimed to improve access to advice for all Australians, but will the government’s ...
Sequoia’s licensees achieved the “highest net organic growth” in adviser numbers in calendar year 2023
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin