What we are about. I asked my accountant about his plans when the accounting exemption ceased, he responded, “I can just go under your license, can’t I?”. Having attended a series of PD days and conferences fraught with grave warnings from the big end of town about allowing the accounting scourge to become authorised under existing licenses, I answered, “probably not”.
Then I thought about it. I researched responsibilities after the accounting exemption expires and reached the following conclusion. If we open up our license exclusively for accountants and create a simple system that prevents non-compliance at every step of the advice process then, perhaps, our risk and the accountants’ risk can be mitigated. If we price it correctly and provide incentives to assist with client advice beyond the scope of the limited authority then it will be significantly less expensive than obtaining and running a full or limited license.
Our goal. A simple and clear system that ensures accountants comply with the legislation when the exemption expires on June 30, 2016. In addition, we are facilitating face to face RG146 training because when we spoke to accountants they told us that’s what they wanted. We discovered there was no face to face training in WA, SA, NT or Tasmania for CPA members and the ICAA have no face to face training at all. Our program complies with RG146 and is SMSF specific.
The most important aspect of our training. We educate accountants to deal with a client who comes in on July 1, 2016 and asks, “Can you please advise me on whether I should commence an SMSF?”. Think about that for a moment … then ask yourself what do I actually do? Our two day RG146 SMSF training is specific, relevant and costs $2,500 (+GST). We built the training to assist with the transition from exemption to licensing as our focus. I am passionate about the tools necessary for accountants to do what they have always done. Accountants who join our license after the expiry of the accountants’ exemption will know exactly what to do on July 1st.
My accountant is the first accountant in Australia to agree to join our license and participate in our RG 146 SMSF course.
For more about our two-day intensive RG146 training, take a look at our YouTube video.