Call to give advisers ‘read-only’ ATO portal access

Mike Taylor

Managing Editor and Publisher

4 February 2026

The Government should use the May Federal Budget to provide financial advisers with read-only access to the Australian Taxation Office (ATO) portal with clients controlling access via the Financial Adviser Register, according to the Institute of Financial Professionals Australia (IFPA).

At the same time, IFPA is arguing that accountants should be able to provide “strategic and structural superannuation advice to their clients relating to their tax affairs such as the ability to make contributions, commence a pension or establish and assist in the operation of a self-managed fund.

“If accountants are granted an exemption to provide strategic and structural advice, we believe financial advisers should also have the same exemption in those situations,” IFPA said in a pre-budget submission.

“In other words, if this type of advice is not classified as ‘financial product advice’, then both accountants and financial advisers should follow the same rules regarding the need for a statement of advice (SOA) or record of advice (ROA),” it said.

“It is paradoxical that accountants cannot provide such simple superannuation advice particularly when accountants have access to the tax agent portal and can see their client’s total superannuation balance, their available contribution cap space, contributions made by/for them through single touch payroll, etc.

“On the flipside, financial advisers who are licensed to provide this advice do not have access to their client’s information on the portal unless they are registered tax agents,” the submission said.

“We believe it is time to undertake this review to allow qualified accountants to provide structural advice on superannuation, from accumulation phase right through to pension phase and beyond,” it said.

The submission makes clear that Treasury’s concerns about providing access, particularly those relating to cyber-security and financial crimes list are misplaced.

“Financial advisers manage sensitive client data on a daily basis, including medical, estate planning, and financial information, while adhering to strict compliance and data security requirements. Likewise, small accounting firms also handle similar sensitive information, raising the question of why only small financial advice businesses have been singled out in this discussion,” it said.

“Most financial advice firms (large and small) have undergone cybersecurity reviews and implemented strict data protection measures.” It said.

“To streamline advice while maintaining security, we propose a new, read-only access class for licensed financial advisers within the ATO portal, where:

• Clients control access via the ASIC Financial Adviser Register, similar to tax agents.
• Advisers can only view, not modify, data, ensuring tax compliance remains with registered tax agents.

“This reform would reduce inefficiencies, lower costs, and improve financial advice outcomes while maintaining strict security standards. These actions will help to modernise the system to ensure Australians receive timely, affordable, and high-quality financial advice.”