Licensing regime tipped to damage SMSF appeal
The complexities and additional costs imposed on clients as a consequence of the new licensing regime could see a significant decline in the attraction of SMSFs, according to one national accounting and advisory firm.
William Buck managing director Lindsay Holloway told SMSF Adviser that with the accountant’s exemption ending mid next year, accountants will be required to complete a statement of advice along with other complex processes when undertaking certain services for clients, such as setting up an SMSF.
Read the full story at SMSF Adviser.
