SMSF Association Submission
The SMSF Association welcomes the opportunity to provide this submission in response to the Government’s proposed remaking of the Superannuation Auditor Registration Imposition Regulations.
We welcome the proposed amendment to the application fee to cancel an SMSF auditors’ registration under section 128C of the Superannuation Industry (Supervision) Act 1993 (SISA). The current fee of $899 is excessive and the impost of a fee should not be a barrier to exit. Someone who is seeking to cancel their registration and exit the sector should be encouraged to do so, and not encouraged to maintain their registration due to the cost.
The proposed reduction of the cancellation fee to $193 [item 3, section 6] is welcomed if it is representative of the cost to administer the cancellation of an auditor’s registration. We note that registered company auditors are not subject to a registration cancellation fee. It is unclear how significantly the processing of an application to cancel a registration differs between these cohorts, and whether for SMSF auditors it differs to such an extent.