Understanding the tax deductibility of advice fees

In this episode of The ifa Show, host Keith Ford is joined by Conrad Travers, director and principal consultant at Tangelo Advice Consulting, to discuss the ATO's final determination on tax deductibility of advice fees and how advice firms can put the changes into practice to benefit their clients. Travers explains how the new guidance works, what has changed from the draft determination that was released last year, and why it is important to work alongside accounting professionals to ensure the best outcomes for clients. Listen as they discuss: Why advice firms need to identify areas of friction in their processes to enhance their operational efficiency. How to get your practice ready for the changes coming out of the first Delivering Better Financial Outcomes (DBFO) legislation. What to expect from the second tranche of DBFO and why you shouldn't rely on regulatory change to improve your practice.