TD2024/7 states 'From 1 January 2022, entities that provide tax (financial) advice services for a fee or other reward must either be a 'qualified tax relevant provider' registered with the Australian Securities and Investments Commission or be a tax agent registered with the Tax Practitioners Board and meet the eligibility requirements to provide tax (financial) advice services.'
It does not state this is required for advisor that do not give 'tax' advice, so if i was paying an advisor to change my investment mix, their fee would be deductible in item D8 even if they were not QTRP as they never gave me tax advise.
However, I'm getting confused with the ATO Instructions here: https://www.ato.gov.au/forms-and-instructions/individual-tax-return-2025-instructions/deduction-questions-d1-d10-individual-tax-return-2025/d8-dividend-deductions-2025
It says that financial advice cannot be claimed from someone who isn't either tax agent with a current Tax Practitioners Board registration or qualified tax relevant provider with a current Australian Securities and Investments Commission registration.
Which to follow?
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