One of the oldest rivalries in the SMSF arena was (not unexpectedly) reignited with Minister Bowen's announcement on the weekend. Already this is being reported as lessening competition by removing accountants from the SMSF establishment arena.
These comments are premature. Bowen has already indicated that there will be an alternative arrangement - albeit yet to be determined.
One suggestion might be to have a quite specific licensing regime in the SMSF area - with SPAA already offering their accreditation as a benchmark. A regime which raises the bar across the board must be good for fund members.
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