ASIC has issued a statement to reiterate to financial advisers who provide tax advice their new obligation to register with the Tax Practitioners Board.
The statement confirms that AFSL and Corporations Act obligations will remain unchanged under the new regime, but that ASIC is aware of a number of new requirements.
“Until 31 December 2015, AFS licensees and their authorised representatives who provide a tax (financial) service can either: notify the TPB to become registered as a tax (financial) adviser, or use a relevant disclaimer when they provide tax (financial) advice services for a fee or other reward,” the statement said, confirming a statement issued by the TPB earlier this week.
“This option is the first phase of the progressive introduction of registration of tax (financial) advisers that will continue over the next three years.”
ASIC Commissioner Greg Tanzer said the corporate regulator has been working in conjunction with the TPB and will continue to do so.
SUBSCRIBE TO THE IFA DAILY BULLETIN
15 Dec 2017AIW Dealer Services enters EUBy Staff Reporter
15 Dec 2017New CEO appointed at Centrepoint AllianceBy Staff Reporter
15 Dec 2017FASEA education pathways provide certainty: O’DwyerBy Killian Plastow
14 Dec 2017AUSTRAC adds to list of CBA allegationsBy Killian Plastow
15 Dec 2017Get ‘independent financial advice’: Joe HockeyBy Aleks Vickovich
14 Dec 2017‘Forward-thinking’ advisers drive mFunds growthBy Aleks Vickovich
- view all