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New regulations could kill off SMSF

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Australian Broker | 24 Oct 2015, 06:37 AM Agree 0
New regulations for accountants could deal a major blow to the SMSF market, an accounting firm has claimed
  • Paul | 26 Oct 2015, 09:50 AM Agree 0
    What! The fear of being held accountable for their less than stellar recommendations that clients establish SMSFs has them predicting doom.

    Accountants have long escaped scrutiny of their actions through self regulation. The common refrain when questioned about the establishment of an SMSF is that the client wanted it. This is the common defence they use to escape any responsibility. If they were subjected to the same scrutiny as planners there would be a lot less SMSFs established.
    Bring on regulation to level the playing field.
  • Robert B | 26 Oct 2015, 10:59 AM Agree 0
    I thought a liberal government was about getting rid of regulation. Kind contradictory being called self managed, while having to pay for advise.
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