Time running out for unregistered planners
Financial planners and advisers who are not yet registered with the Tax Practitioners Board (TPB) that provide financial tax advice are running out of time and will not be able to take advantage of the transitional registration after the end of the financial year.
TPB chair, Ian Taylor, said all Australian financial services licensees, authorised representatives, corporate authorised representatives, and defined employee representatives could choose the option of a transitional registration, which would then allow extra time to satisfy requirements.
"To register under the transitional option you must have sufficient experience to be able to provide tax (financial) advice services to a competent standard — which is generally the equivalent of 18 months or longer of full-time experience," he said.
"If you wish to take advantage of the transitional registration option, it is only available until 30 June this year. After this time all registrations and renewals will need to meet the standard registration requirements."
AUTHOR
Hope William-Smith
Recommended for you
The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
Increasing revenue per client is a strategic priority for over half of financial advice businesses, a new report has found, with documented processes being a key way to achieving this.
The education provider has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements prior to the 31 December 2025 deadline.
