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(RG146) ASIC’s Warning on Deadline and our Top Tips (2 of 2)

In yesterday’s article we highlighted that ASIC has put on record that a soft deadline of 1 March 2016 is in place.  This new soft deadline is to avoid the last minute stampede. Effectively, this gives accountants six months to complete their training and settle on a solution to continue to do what they have always done when giving advice on the setting up and winding up of SMSF’s.

The key considerations for your practice are as follows:

  1. Scheduling in RG146 training (tip: ensure your facilitator comes to you, your assessments are completed during the course and it runs for 2 days).
  2. Consider how your practice will give advice if only one partner or the principal is authorised
  3. Select a licensee that pays your firm weekly
  4. Select a licensee with para planning capacity
  5. Select a licensee that has software that ensures you comply
  6. Select a licensee that offers you a share of their profits

James Barger-Bos, the fwgs ceo said, ‘my message to accountants is clear: don’t be complacent, you need to act now. ASIC have accountants on notice that they need to implement their strategy now.’

Finance wise global securities recommends accountants become authorised under their license. We have a solution that is simple, clear and cost effective. Contact us at [email protected] or register your interest on our website. We have face-to-face RG146 training scheduled in Adelaide, Sydney and Perth.

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