There is a lot that an accountant can do for their SMSF client without holding an AFSL. BUT, to assist with implementing SMSF transactions leaves unlicensed accountants legally exposed.
Accountants can provide details of a licensed adviser (such as A.S.A.P.) where the client can obtain advice from as little as $250+GST. Accountants can also assist the client in setting the scope of that advice, for example by using A.S.A.P.'s online scoping tool which helps to validate each clients advice needs.
Note: Accountants can't make a referral in a fashion that could reasonably be regarded as intending to influence the client in making a decision in relation to a financial product or class of financial product. Please read A.S.A.P.'s guide for further information on this and ASIC's complex 'arranging' rules.
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References:
RG 36.34(f)
Reg 7.6.01
Reg 7.1.31
ASAP Guide 1 and Guide 2 for unlicensed accountants