The Association of Financial Advisers (AFA) has been recognised as a registered tax (financial) adviser association by the Tax Practitioners Board (TPB).
In a statement, AFA chief executive Brad Fox said the accreditation means AFA members may be exempt from undertaking additional education when registering with the TPB.
As a result of the TASA legislation, financial advisers wishing to provide tax advice must be registered with the TPB by 31 December 2015.
“Now, AFA members that meet the experience requirements of the TPB, being six years’ experience out of the last eight years at the time of re-registration, will not have to undertake new courses in Australian taxation law and commercial law,” Mr Fox said.
“This is an appropriate recognition of their experience and capabilities.”
Mr Fox suggested the AFA’s acceptance by the TPB signals its professionalism.
“Throughout our 68-year history, the AFA has adapted to changing demands to maintain our leadership position as the association of choice,” he said.
“The TPB registration will allow most of our members to capitalise on their existing experience and maximise their time spent providing advice.”
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