Beta Program Information

The Program

Over 21 days we’ll take you through the steps of setting up your new SMSF to the point where you’re investing your super your way.

Although our online application form only takes a few minutes, the ATO needs a few days to approve your SMSF and your existing super fund will take a few weeks to transfer your super.

During these wait times, we’ll be sending out important email content, touching base by phone, and running webinars to help you along. You’ll be taking control of your super while playing a big part in shaping Stake SMSF as a product that changes the face of super for every Australian investor.

Limited Numbers

Only a limited number of people will be able to set up their SMSF under our beta program. Invitations to set up your SMSF will be sent in groups commencing in late April 2021 and prioritised based on when you enrolled in the beta program.  

Sign up first to avoid missing out!

Your New SMSF

Stake SMSF enables you and other Australian investors to set up and manage your own superannuation, in just a few clicks.  An SMSF is more simple and affordable than ever.

We manage the set up, compliance and reporting from day 1 so you can focus on investing.

Getting Started

Simply fill in some personal details, choose the name of your fund and we’ll set up your SMSF with the ATO and ASIC. 

You’ll need your Tax File Number and Stake Account Number – that’s as complex as it gets!

SMSF Pricing Packs

You need to choose what SMSF Pack suits your needs:

  • Invest your SMSF just on Stake (US equities only…for now 😉 ) choose the basic Stake SMSF pack;
  • Invest in a wider range of investment (any allowable SMSF asset) choose the premium Stake SMSF PLUS pack;

The fees are annual costs and include the independent audit.  As a beta program member, you’ll always receive the $220 reduction off the standard $990 annual fee for the basic Stake SMSF pack.

Stake customers told us that cost was stopping them from starting their own SMSF.  We believe our basic Stake SMSF pack at $770 per year is the lowest in Australia and removes the main barrier for those who want to manage their super on their terms.

Our premium Stake SMSF PLUS pack provides a higher level of service with a dedicated SMSF account manager. The higher fees take into account the additional accounting work and audit fees required to deliver this service when you invest outside of Stake.

Importantly, ONCE YOUR SMSF IS SET UP AND FUNDED THE UPFRONT FEE IS REIMBURSED FROM YOUR SMSF.

Upgrading to Stake SMSF PLUS

At some point, you may want to invest in an asset not available on Stake – for example, an investment property.

If you’re on the basic Stake SMSF pack, any investment your SMSF make outside of Stake will automatically trigger an upgrade to the Stake SMSF PLUS pack.  The upgrade will occur from the month the investment is made and is adjusted in your fees at the end of the financial year when we complete the annual accounts and return for your SMSF.

ATO and ASIC Annual Costs

The fees you pay upfront cover both the set up of your SMSF as well as the first-year fees.

On the anniversary of the set up of your SMSF, the following fees will also be payable:

  • ASIC – $55
  • ATO – $259

The ASIC fee is indexed each year on the 1st of July so it could be $56 in 2022.  The ATO levy is payable when the SMSF lodges its tax return, which could be sooner than 12 months after setup.

Setup Time

The complete time to set up an SMSF from application through to having your super monies in your trading account ready to invest can take between two and six weeks.

Your part of the setup only takes 10-15 minutes including completing the simple online application form and electronically signing the SMSF establishment documents we send you.  If you decide to take up life and TPD insurance via our SMSF insurance provider just add another 5 minutes.

Meanwhile, there is a number of items we take care of for you:

  • Registering a special company for you that will be the trustee of your SMSF;
  • Applying to the ATO to register your SMSF;
  • Setting up your Stake trading account and Macquarie CMA;

Once the above is taken care of it’s all about assisting you to transfer your super from your current super fund to your SMSF and a little housekeeping to ensure your super contributions are paid into your SMSF account moving forward.

We can’t control how long it will take the ATO to approve the registration of your SMSF or how long your existing super fund will take to transfer your money to your new fund.

Two Member SMSFs

When completing your online SMSF application, you’ll have the option of adding another person – typically your partner – to your SMSF.

Having a second member in your SMSF reduces the average cost of managing your super.  Adding your partner is very straightforward.  You will need their TFN, email and mobile number and a few other simple details.  The second member does not have to be an existing Stake customer.

Adding an additional member at a later time is possible, but a bit more complex and costly.

Company Trustees

When setting up your SMSF with Stake a special purpose company will also be established. This company will only act as the trustee of your new SMSF.

Using a company as the trustee of your SMSF has many advantages including: An SMSF can be set up with a single member, stronger legal support for the electronic signing of the SMSF trust deed, easier to add/remove members without changing names on investments and accounts, clear legal separation from personal assets and single ATO administrative penalty compared to each individual trustee being fined.

What’s Included

Every Stake SMSF setup will also have a Stake trading account and Macquarie Cash Management Account established to act as the AUD wallet to receive rollovers and contributions.

Stake is building towards being your entire wealth management in one spot, so expect more investment options to be included in the basic Stake SMSF pack in the near future!

Watch this space 😉

Close Bitnami banner
Bitnami