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Accountants Exemption Expiry Newsletter 3

As finance wise communicates with accounting practices all over the country it is becoming increasingly apparent that there is confusion over what services are currently exempt from the Corporations Regulation, what accountants should demand from their licensee and what the RG146 training requirements are. We can illuminate these issues:

Current Exemptions

Reg 7.1.29 introduced in May 2003 permits

  1. Factual advice
  2. Taxation advice and traditional accounting services
  3. Broad based asset allocation advice
  4. Execution only services

The above continues after the exemption. It is important to note that the following advice elements are not available now, which may come as a surprise to many accountants:

  1. Type and quantum of contributions
  2. Rolling over existing super accounts
  3. Investment or insurance
  4. Commencing a pension or taking a lump sum benefit
  5. Preparing an investment strategy

What should accountants be looking for in a licensee?

James Barger-Bos BAcc BMgmt DFP has his TOP FIVE:

  1. Secure web-based software which automates the timing of compliance documents
  2. Extending an accountant’s authority to basic banking products and avoiding inevitable breaches
  3. Para-planning capacity
  4. Diverse CPD options
  5. RG146 course


A licensee ought to have their own RG146 course. Why? Without completing an approved RG146 course it is not possible to obtain a limited license or become authorised. This element of a licensee’s offering demonstrates they have made an extra commitment and they understand what accountants are seeking: namely, a two day face-to-face facilitator lead course where assessments are completed during the course.

UPCOMING RG146 DATES: Adelaide 10-11 November; Sydney 23-24 November; Perth in early December.


Finance wise has a clear simple and cost effective solution for accountants seeking to be authorised rather than obtain their own limited license. The licensing fee is $80.00 per week and $50 per month for the software. To understand the full picture please refer to our numerous blogs at or contact our office directly on (08) 8299 9707.

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