ASIC issues warning to accountants

The accountants exemption expires on the 1st July 2016 and accountants will be breaking the law if they provide advice on SMSF’s without an AFSL.

“From 1 July 2016, accountants must hold a limited AFSL or be an authorised representative of a licence-holder or licensee in order to provide financial product advice on self-managed superannuation funds,” said ASIC.

“This follows a three-year transition period that commenced on 1 July 2013”, said ASIC.

If you want to know how the accountants exemption will impact your SMSF please call