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ARTICLE · 13 OCTOBER 2017

Part II: Certified Wholesale - SMSFs and Accountants Certificates

Holley Nethercote
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Part II of this blog series discusses wholesale client eligibility, individual wealth, controlled entities and SMSFs.

AustraliaWealth Management
David Court
David Court
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In Part I of this blog series, we addressed the following questions:

  1. What is an accountant's certificate?>
  2. What is the distinction between wholesale and retail clients?
  3. When is it permissible to treat an SMSF client as wholesale?

We left off at What are the wholesale client eligibility tests? In Part II of this blog series, we will continue from there and answer the remaining questions:

  1. What are the wholesale client eligibility tests?
  2. What is individual wealth?
  3. How are controlled entities included?
  4. Who can control an SMSF?

4. What are the wholesale client eligibility tests?

The legislation creates 5 classes of eligibility to be a wholesale client. Only one of these classes, the individual wealth tests, requires certification by accountants.

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