FPA issues call to arms over income alienation
The Financial Planning Association (FPA) has embarked on one of its biggest political campaigns to head off what it calls the “disastrous impact” of alienation of personal services income legislation.
The FPA has embarked on a letter writing campaign, urging members to lobby the Government by writing to their local members. It has also stepped up its personal lobbying efforts in Canberra.
The joint strategy represents on of the most concerted efforts of its type by the association in recent memory.
Chairman Ray Griffin has written to principal members asking them and their proper authority holders to write to their local representatives stating the FPA's case.
Griffins letter says this is "a high priority political campaign to alert Government
Senators and backbenchers of the inequity and disastrous impact on the industry of the Australian Tax Office's (ATO) strict interpretation of current alienation law."
The FPA met with the Minister for Financial Services and Regulation Joe Hockey and Assistant Treasurer Senator Rod Kemp two weeks ago to discuss the issue.
FPA policy manager Con Hristoduolidis says the FPA placed a number of solutions before the Government but at time of writing was still awaiting feedback from the minister's office.
AUTHOR
Jason Spits
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