As you know, here at KDA Group we have always endeavoured to keep you abreast of changing government regulations regarding superannuation in general, and your Self-Managed Superannuation Fund (SMSF) in particular. In line with this practice, we would like to inform you of some changes that came into effect earlier this year.

On July 1 2016, the laws relating to advice and SMSFs changed. This was done to ensure both the quality of the financial advice given to consumers and the provision of additional protection to taxpayers.

What the regulatory changes mean for you in practical terms, is that from now on we need to provide Statements of Advice formalising particular discussions we have with you regarding your superannuation needs.

Under the new laws, accountants are no longer able to provide advice in relation to superannuation unless they hold an Australian Financial Services Licence (AFSL) in their own right, or are licenced as an Authorised Representative of an AFSL holder.

To date, very few accountants have become licenced and therefore the pool of accountants able to provide advice on superannuation matters has shrunk considerably.

KDA Group SMSF Strategists Pty Ltd along with Kevin and Roxley have held the required licence since 2010, and are now Authorised Representatives of Merit Wealth Pty Ltd, AFSL No. 409361, allowing us to continue providing financial advice on the following: 
    • Setting up a SMSF 
    • Making contributions into your SMSF 
    • Use of a borrowing arrangement within your SMSF 
    • Establishing and finalising pensions 
    • Winding up your SMSF

As the holder of a full Australian Financial Services Licence, Merit Wealth has access to a range of financial advisers. We are confident that if your advice needs extend beyond the scope of our licence, Merit Wealth will be able to provide experienced advisers to assist you.

Regardless of the regulatory changes, you can be assured that we will continue to provide you with the same high quality of service and professionalism that you have come to expect from us here at KDA Group.