FSC joins calls for tax deductible adviceBY MARK SMITH | MONDAY, 10 FEB 2014 12:15PMThe Financial Services Council (FSC) has recommended the government implement tax deductions for those seeking financial advice. Related News |
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Blake Briggs
CHIEF EXECUTIVE OFFICER
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FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
On what basis shoud up front fees relating to advice on, say, life insurance and superannuation funds be deductible?
If these organisations are looking to make the cost of advice more palatable for lower income families, a deduction is going to have minimal impact. What will be better is some form of tax offset, which has greatest benefit for low income earners.