Anthony Albanese (Grayndler, Australian Labor Party, Leader of the House) Share this | Link to this | Hansard source

by leave—I move:

That the Parliamentary Joint Committee on Corporations and Financial Services shall inquire into and report by 17 June 2013 on the creation of a regulatory framework for tax (financial) advice services based on Schedules 3 and 4 to the first reading of Tax Laws Amendment (2013 Measures No. 2) Bill 2013. In particular the Committee will focus on:

(1) the application (ie definition) of the regime to ensure that the regime is applied to the appropriate persons;

(2) steps that can be taken to minimise regulatory duplication on industry participants;

(3) the interplay of the Tax Agent Services Regime with the Future of Financial Advice reforms, in particular the Best interests duty;

(4) ensuring that new advice providers are not prohibited from employment in the future; and

(5) what further transitional relief may be required.

Question agreed to.