Who can legally provide advice to businesses?

Who can legally provide advice to businesses?

  • Do you know the legal and governmental requirements?
  • With the increase of coaches, trainers, mentors and professional advisers who is legally (under state/federal law) allowed to give advice and what specific advice can they give?
  • Did you know that for some professions licensing and registration is still handled at state government level?

This page identifies who can legally provide what advice and links to regulatory bodies.

  1. Selling, buying or exchanging businesses or professional practices:-

     Licensed business agent and registered business sales representatives

2. Financial product and investment advice sales representatives:-

     Australian financial services (AFS) license holder

3. Tax (financial) advice, Tax advice and Business activity statement advice:-

     Registered tax agent

     Registered BAS agent

    Registered tax (financial) advisers

4. Legal advice:-

     Lawyer (barrister/solicitor) with current practicing certificate

So what does that mean to me?

Don’t be exposed legally and financially as a consumer or service provider

Before providing, taking, charging or paying for professional advice

  • Ensure that you are legally able to provide that advice
  • Ensure your professional advice provider is legally able to provide that advice
  • It is a consumers right to ask for proof, receive a refund and governmental lawyers will take action if the advice is not with in professional scope – https://www.accc.gov.au/