Submission on Delivering Better Financial Outcomes exposure draft legislation
On 2 May 2025, the Institute of Financial Professionals Australia (IFPA) lodged its submission on the Delivering Better Financial Outcomes exposure draft legislation. While IFPA welcomes the Government’s intent to
A Letter from the Coalition
The Hon Luke Howarth MP has written to the Institute of Financial Professionals Australia (IFPA) outlining the Coalition’s plan to support financial professionals by reducing red tape, cutting costs, and strengthening
Letter to the Commissioner
On 24 April, the Institute of Financial Professionals Australia (IFPA) wrote to Mr Rob Heferen, Commissioner of Taxation, regarding a recent Tribunal decision involving a disallowed meal expense claim by
Submission on payday super exposure draft legislation
On 11 April 2025, the Institute of Financial Professionals Australia (IFPA) lodged its submission on the payday super exposure draft legislation to address unpaid super. While IFPA supports the proposed
Submission on CSLR – Post Implementation Review
On 28 February 2025, the Institute of Financial Professionals Australia (IFPA) lodged its submission on the post implementation review of the Compensation Scheme of Last Resort (CSLR). In principle, IFPA
Joint Submission on TR 2013/5A1 – Addendum Income tax: when a super income stream commences and ceases
Chartered Accountants Australia and New Zealand, CPA Australia, Institute of Financial Professionals Australia, Institute of Public Accountants, and the SMSF Association (collectively the ‘Joint Bodies’) welcomes the opportunity to provide
2025-26 Pre-Budget submission
On 31 January 2025, the Institute of Financial Professionals Australia (IFPA) submitted its 2025-26 Pre-Budget submission on tax, superannuation and financial services matters. In brief, IFPA is urging the Federal
Submission on ATO LCR 2021/2DC and TR 2010/DC2
The Joint Bodies, including the Institute of Financial Professionals Australia (IFPA), have raised concerns about two ATO rulings: Law Companion Ruling LCR 2021/2DC, which deals with non-arm’s length income and
A Night to Remember: Celebrating Excellence at the Inaugural Australian Financial Industry Awards
The Four Seasons Hotel Sydney hosted the dazzling inaugural Australian Financial Industry Awards, presented by the Institute of Financial Professionals Australia (IFPA). Guests enjoyed an evening of exceptional food, champagne,
IFPA Welcomes Clarified Professional Standards for Tax Practitioners
The Institute of Financial Professionals Australia (IFPA), representing over 15,500 independent tax, superannuation, and financial services professionals, has today submitted its detailed response to the Tax Practitioners Board (TPB) on
Submission on TPB(I) D56/2024 to TPB(I) D61/2024
The Institute of Financial Professionals Australia (IFPA) today provided our response to the above draft Information Sheets (IS) released by the Board on 24 October 2024, on aspects of the
Stuart Sheary Appointed Senior Technical Services Specialist
The Institute of Financial Professionals Australia (IFPA) is pleased to announce the appointment of Stuart Sheary as Senior Technical Services Specialist. With over 20 years of experience in the financial
Our Submission on ATO’s Draft PCG 2024/D2: Advocating for Clearer Guidelines
The Institute of Financial Professionals Australia (IFPA) has provided a detailed submission in response to the draft Practical Compliance Guideline (PCG) 2024/D2 issued by the Australian Taxation Office (ATO). The submission
Breakthrough for retirees in legacy pensions
The Institute of Financial Professionals Australia (IFPA) has praised the government’s draft regulations aimed at providing long-awaited relief for retirees trapped in legacy pension products. These reforms will allow retirees
Submission by joint professional bodies on TASA Code of Professional Conduct changes
Yesterday the joint professional bodies lodged a submission on the latest proposed changes to the TASA Code of Professional Conduct. The Institute of Financial Professionals Australia was a co-signatory. The
Joint bodies remain concerned about new tax agent obligations
The professional bodies representing Australia’s tax and BAS agents, including the Institute of Financial Professionals Australia (IFPA), have advised that they met with the Assistant Treasurer’s office and Treasury on
A message to the Government from Australia’s taxation professionals
The Joint Bodies, including the Institute of Financial Professionals Australia, firmly support and advocate for reforms that strengthen the accounting profession but believe the government’s new rules for tax practitioners overreach in a way that is
Limited Consultation on New Tax-Agent Code Raises Concerns Among Professional Bodies
The Joint Bodies, including the Institute of Financial Professionals Australia, have raised concerns over the limited consultation on the recent Tax Agent Services (Code of Professional Conduct) Determination 2024. The changes,
Submission on the Review of Eligibility Requirements for Registration with the Tax Practitioners Board (TPB)
On Wednesday 7 August 2024, the Institute of Financial Professionals Australia (IFPA) submitted a formal response to Treasury’s Consultation Paper on the Review of Eligibility Requirements for Registration with the Tax Practitioners Board
Our submission on reporting breaches in TASA code of conduct
The Institute of Financial Professionals Australia (IFPA) has submitted a detailed response to the Tax Practitioners Board (TPB) regarding the Draft Information Sheet TPB(I) D53/2024 on breach reporting. This submission
Senate Economics Legislation Committee public hearing on Division 296
On Thursday 18 April 2024, the Institute of Financial Professionals Australia (IFPA) was invited to appear before the Senate Economics Legislation Committee (SELC) public hearing as part of its inquiry
IFPA slams retrospective CSLR levy
The Institute of Financial Professionals Australia (IFPA) is deeply concerned about the retrospective aspect of the CSLR levy and the cost advisers will have to pay to fund the operation
Our submission to the inquiry into Division 296 – Senate inquiry
On 23/2/24, we provided our submission into Treasury Laws Amendment (Better targeted Superannuation Concessions and Other Measures) Bill 2023.This Bill has been referred to the Senate Economics Legislation Committee with the report
Our submission on objective of super – Senate inquiry
On 9/2/24, we provided our submission into the Superannuation (Objective) Bill 2023. This Bill was referred to the Senate Economics Legislation Committee for inquiry with a report due by 28 March
Our submission on retirement phase of super
On 9/2/24, we provided our submission on the ‘retirement phase of superannuation’ discussion paper. We recognise the need to optimise the retirement phase of superannuation and focussed our submission on
2024-25 Pre-Budget submission
On 25 January 2024, the Institute of Financial Professionals Australia submitted its 2024-25 Pre-Budget submission on tax, superannuation and financial services matters. In brief, we are calling on the Federal
Another kick to Australian taxpayers
The Institute of Financial Professionals Australia is disappointed to note the Government’s intention, as outlined in the 2023-24 Mid-Year Economic and Fiscal Outlook (MYEFO), to make the General Interest Charge
Senate Economics Legislation Committee public hearing on NALE
On Monday 13 November 2023, our association was invited to appear before the Senate Economics Legislation Committee’s public hearing as part of its inquiry into Treasury Laws Amendment (Support for
Our submission on payday super
On 3/11/2023, we provided our submission on the payday super regime. In brief, we support the change for employers to pay SG contributions at the same time they pay salary
Our submission to the inquiry into the NALE provisions
The Institute of Financial Professionals Australia welcomes the opportunity to provide this submission on the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023. Our submission is
Australian Small Businesses eagerly wait for much needed support
The Institute of Financial Professional Australia is pleased that the Australian small business community is one step closer to receiving much needed support through certain tax measures that aim to
Our submission on the extra 15% tax for super balances over $3m
On 18 October, the Institute of Financial Professionals Australia provided its submission on the proposed extra 15% tax on superannuation balances above $3 million. We remain opposed to the extra
Proposed super tax far from ‘equitable’ policy
The Federal government’s newly released draft legislation on the extra 15% tax on superannuation balances above $3 million is far from being equitable policy, says Head of Superannuation and Financial
Legislating the objective of superannuation
While we fully support consistency in future policy making around superannuation, we do not support legislating the objective of superannuation. Our reasons for reaching this conclusion remain the same as
Our submission on the NALE rules for super funds
On 7 July 2023, the Institute of Financial Professionals Australia (IFPA) provided its submission on the non-arm’s length expense (NALE) rules for superannuation funds. Although the proposed legislative changes to
Quality of Financial Advice review – recommendations adopted
The Government has announced that it will adopt the bulk of Quality of Advice review recommendations. The Government said that announced reforms aim to address the high cost of advice,
Institute of Financial Professionals Australia urges government to tackle comprehensive tax reform
In its 2023-24 Budget submission, the Institute of Financial Professionals Australia, has urged the government to address underlying structural Budget weaknesses by going beyond incremental change and undertaking comprehensive tax
Our submission on the extra 15% tax for super balances over $3m
On 17 April 2023, the Institute of Financial Professionals Australia (IFPA) provided its submission on the proposed extra 15% tax on total superannuation balances above $3m. We do not believe
Implementation of the Government’s response to the Review of the Tax Practitioners Board
On 31 March 2023 the Institute of Financial Professionals (IFPA) continued to raise its concerns regarding the proposed changes to the Tax Agent Services Act 2009 contained in the Treasury
Joint submission on legislating the objective of superannuation
The Institute of Financial Professionals Australia along with two other associations wrote to Treasury on legislating the objective of superannuation. The Joint Bodies do not support the government’s proposed objective
Legislating the objective of superannuation
While we fully support consistency in future policy making around superannuation, which should broadly be aimed at providing income/benefits for individuals and their dependents in retirement, we do not support
PCG 2022/D5: Classifying workers as employees or independent contractors
The Institute of Financial Professionals Australia provided its submission to the ATO on Draft Practical Compliance Guideline PCG 2022/D5: Classifying workers as employees or independent contractors – ATO compliance approach.
Joint submission and statement on non-arm’s length expense (NALE) rules for superannuation funds
The Institute of Financial Professionals Australia along with six other associations wrote to Minister, the Hon Stephen Jones MP, seeking urgent amendment to the superannuation non-arm’s length income (NALI) provisions.
Submission on non-arm’s length expense (NALE) rules for superannuation funds
On 21 February 2023, the Institute of Financial Professionals Australia provided its submission on the non-arm’s length expense rules for superannuation funds. Our association does not support the proposals and
Sladen Snippet – Treasury Releases Proposed NALE Changes
Treasury has released proposed legislative changes to the non-arm’s length expenses (NALE) rules. While they are not as bad as the initial proposal to tax NALE at a rate of 225%, they are
2023/24 pre-budget submission on superannuation issues
On 24 January 2023, the Institute of Financial Professionals Australia submitted its 2023/24 pre-budget submission on superannuation matters. We believe there are number of measures that can be introduced by
Implementation of the Government’s response to the Review of the Tax Practitioners Board
On the 11 December 2022 the Institute of Financial Professionals (IFPA) together with other external professional association members of the Tax Practitioners Board (TPB) Consultative Forum made a submission in
IFPA Response to ALRC Executive Summary
The Institute of Financial Professionals Australia (IFPA) is an association that represents several elements of what the general public commonly regard as being professionals in the financial services industry in
TSA opposes capping superannuation balances
Tax & Super Australia (TSA) opposes the limiting of the size of account balances in superannuation funds. TSA Head of Superannuation Natasha Panagis said introducing a cap on superannuation balances
PCG 2022/D4
Tax and Super Australia (TSA) welcomes the opportunity to make a submission to the Australian Taxation Office (ATO) in relation to the draft Practical Compliance Guideline PCG 2022/D4 “Claiming a