ASIC industry funding commenced on 1 July 2017. A new version of the Cost Recovery Implementation Statement (CRIS) was released for comment last month, with account stakeholder feedback to be considered in the lead-up to a final version likely to be published in early 2018.
This article highlights some areas of concern for advisers with an AFSL - limited or full, particularly in relation to those who run highly compliant, low-risk advice businesses.Bronny Speed, Director, AccountantsIQ Pty Ltd
ASIC has implemented a thorough surveillance program over past years and, as such, has access to those AFSLs who have required enforcement activity.
It would therefore seem to be 'fair' to the industry as a whole if ASIC was to 'load' those AFSLs with a higher levy if:
You can read earlier ClearLaw articles on a range of professional adviser topics.
Andrew is a Partner in the Maddocks Tax & Revenue team.
Andrew provides advice on:
His advice covers both direct and indirect tax considerations.
Prior to joining Maddocks, Andrew was a tax consultant at a Big 4 Chartered Accounting Firm.
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