Quantcast
Subscribe to our newsletter

Establishment exemption rife with pitfalls

Unlicensed accountants utilising the SMSF establishment exemption may run afoul of ASIC and ruin their ‘trusted adviser’ relationship with clients if they do not recommend they receive advice first, warns an industry lawyer.

Establishment exemption rife with pitfalls
smsfadviser logo
  • Shared by SMSF Adviser
  • October 04, 2017
share this article

Speaking at the National SMSF Conference 2017 last week, The Fold Legal solicitor director Jaime Lumsden Kelly said ASIC would “come knocking” if the regulator became aware of an unlicensed accountant establishing SMSFs without any further discussion with the client.

Read the full article on SMSF Adviser.

Receive the latest Public Accountant news,
opinion and features direct to your inbox.

related articles