Intuitive Super - your SMSF advice partner

Collaborative advice plus administration| Real time reporting for Accountants and SMSF Trustees

The difference between a Self-Managed Superannuation Fund which meets the retirement goals of its trustees and one which does not comes down to receiving quality strategic and financial advice. 

Whether you’re a trustee or an accountant in the SMSF business, Intuitive has the specialist knowledge and experience to help achieve those goals. 

  Heritage Bank Business Excellence Awards Division Winner Banking, Finance, LegalHeritage Bank Business Excellence Awards Category Winner Professional & Business

SMSFs and Australian financial services license (AFSL) – what SMSF Trustees need to ask their accountants.

Much has been made of the 'accountants' exemption' within the accounting profession this year, however only a trickle of information has actually made its way to the end users, self-managed super fund (SMSF) Trustees.

The exemption allowed accountants to provide advice on SMSFs to their clients, but this expired on 30 June 2016.

From 1 July 2016, the Australian Securities and Investments Commission (ASIC) changed the rules, meaning any accountant providing continued advice to SMSF Trustees must have retrained and obtained authorised accreditation in the form of a limited Australian financial services (AFS) licence or become an authorised representative of a licence-holder or licensee.

If SMSF Trustees use an accountant for advice on their SMSF, they should check that the accountant is licensed to ensure they are being provided with the most appropriate advice for their circumstances.

Any accountant still providing SMSF advice without the necessary authorisation can face hefty fines and potentially leave Trustees at a loose end.

SMSF Trustees should visit the Australian Securities and Investments Commission (ASIC) website for information about Limited AFS licenses or phone Intuitive Super on 1300 856 064.

Intuitive Super works with Queensland Audit Services (QAS) for all our super fund audit requirements.