The SMSF Association has announced it will be making a new accreditation available for its members in 2015.
“Some of our new initiatives for 2015 include the fact that we are going to introduce a new accreditation – it’s called the SMSF certified practitioner,” SMSF Association chief executive Andrea Slattery told the industry body’s national conference in Melbourne last week.
“This designation will be a stepping stone for our associates to build their knowledge and experience required to gain a specialisation and allow you to enter into the SMSF market more officially.”
In addition to the new accreditation, the association will also be introducing a program to assist accountants with the new licensing requirements coming into effect on 1 July 2016.
“We’ve been working with industry on a service which includes an accounting licence solution,” Slattery explained.
“This is a diagnostic tool that helps all accountants to be able to make a decision on how and when and who you actually come in with into the licensing regime.
“[It’s] a decision I encourage you all to make very soon if you haven’t already looked at the programs.”
She said it was a crucial time for the sector with numerous reviews creating the possibility of further change to the retirement savings system.
“It is a critical time because in the coming year we will have responses and positions from all parties to the Financial System Inquiry, the Intergenerational Report and the tax white paper,” she said.
“The reaction to and the developments arising out of the tax white paper could again find the tax concessions, which are so crucial in providing incentives for people to sacrifice today’s consumption for their future retirement savings, under threat.
“If that were to happen, it would be a fatal blow to that belief and aspiration of every Australian to enjoy security and dignity in retirement.”
