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Ishwar Shrestha

Apr 13, 2021

SMSF SETP

in SMSF Technical Forum

General Question,

One of my colleague is licensed SMSF adviser(Financial Planner-FP) under once of the dealer group M3. He is also a tax agent and accountant. is he ok to issue SOA wearing FP hat, and setup fund under accountant's hat for same client?

1 comment

Comments (1)

THE AUDITORS INSTITUTE

Apr 14, 2021

Hi Ishwar

My view is yes the financial planner would be able to issue the SOA as the financial planner and then set up the Fund as the tax agent / accountant. If the SOA supports the establishment of a SMSF and the client / members agree to establish the Fund then the accountant / tax agent can do the establishment.

If you have any concerns I would recommend that you contact the dealer group and check that you have met their requirements re the proposed SMSF establishment.

Thanks

SMSF AAA