A.S.A.P. is designed for SMSF accountants who:
- do not have any form of AFSL
- are a member of an accounting body such as the CPA, IPA or CAANZ
- have at least 3 years of SMSF experience
- want to avoid the compliance risk of implementing SMSF transactions (e.g. rollovers and SMSF pensions) without the cover of a Statement of Advice on file
- are a registered tax practitioner with the TPB
- have confident clients who, after receiving tax advice and compliance advice from their unlicensed accountant (under reg 7.1.29) are confident managing their own long term financial planning trade-offs, goals and investment selection decisions
The following page sets out the process to follow when using A.S.A.P. with your clients:
Paperwork process – whole advice process