TPB changes CFP recognition rules
The Financial Planning Association (FPA) has obtained recognition for its Certified Financial Planner (CFP) as an approved course in Australian Tax Law by the Tax Practitioners Board (TPB) such that planners can re-register without requiring additional study in that subject.
The FPA also said CFP professionals who have completed units CFP 1-5 would be considered to have completed the Australian Tax Law subject, and would only need to complete an additional course in commercial law to re-register with the TPB.
The FPA was recognised as a tax agent association by the TPB in 2012, meaning members who are tax (financial) advisers with six years in the past eight years of experience could re-register with the TPB without requiring additional study.
This announcement would mean CFP professionals who did not meet the experience requirements would not have to complete additional study.
FPA chief executive, Dante De Gori, said: "For CFP professionals who do not meet the experience requirements, this will mean that they are only required to complete the Commercial Law course to re-register with the TPB and continue to provide tax (financial) advice"
De Gori also re-confirmed that FPA voting members who did meet the experience requirements would be eligible to re-register without needing to complete any further studies.
"For FPA members who have not yet renewed their TPB registration, we encourage you to check the TPB website for when your registration expires, as this may be as soon as 31 July 2017," he said.
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Malavika Santhebennur
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