DISCLAIMERS

Important information about the services provided by Stake SMSF Pty Ltd.

SMSF Establishment Disclaimer

No Advice Provided or Implied

Stake SMSF Pty Ltd (Stake SMSF) is not licensed to provide financial product advice under the Corporations Act. We will only set up an SMSF under a ‘no advice model’ where you have already decided to establish an SMSF and give us instruction. Before deciding to establish an SMSF or deciding on any financial product, you should seek advice from an Australian Financial Services Licence holder or one of their authorised representatives. Engaging a financial adviser is not mandatory, and it is your decision whether or not to seek personalised advice.

This means that Stake SMSF is not providing financial advice to you, including whether an SMSF is suitable for your personal objectives, circumstances or financial needs.  Any information provided is for the sole purpose of, and only to the extent reasonably necessary for ensuring compliance with superannuation legislation.

Any information contained on our websites, email marketing correspondence and social media channels is general in nature and does not consider the objectives, circumstances or financial needs of any particular individual. 

Specifically, by completing an SMSF establishment application with Stake SMSF, you acknowledge and agree that you are not being provided with advice in regards to:

Whether an SMSF is suitable for you;

Whether it is appropriate for you to transfer your existing super to an SMSF;

Whether you should take out a life and disability insurance policy owned by your SMSF;

SMSF Risks, Obligations and Costs

SMSFs come with certain risks, and when you set up an SMSF, you take on certain obligations as a trustee.  There are also unavoidable costs relating to an SMSF. These risks, obligations and costs include (but are not limited to):

+ Investment risk;
+ Insurance risk;
+ Lack of Government compensation in the event of theft or fraudulent conduct;
+ Trustee skill and time required to manage an SMSF;
+ Fees and costs associated with the establishment, operation and closure of an SMSF;

Trustees are legally responsible for the operation of an SMSF and all investment decisions. For a more detailed explanation of the above, please refer to the following: Risks Associated with an SMSF

By completing an SMSF establishment application with Stake SMSF, you acknowledge and accept these risks and obligations.

No Requirement to use Financial Products

As part of the Stake SMSF application, you are also providing us authority to give Stakeshop Pty Ltd instruction to establish in the name of your SMSF a Macquarie Cash Management Account and Stake DriveWealth account. We will also send you information regarding the insurance products available via our referral partner AGI Insurance. 

There is no requirement to use these financial products for your SMSF; however, additional fees may apply as per the Stake SMSF Fee Schedule if you elect to establish or acquire different financial products. By completing an SMSF establishment application with Stake SMSF, you acknowledge and accept that the accounts, investments and financial products you use will impact your ongoing fees.

Fees

Fees apply to the establishment, operation and closure of an SMSF. Our fees are found in the Stake SMSF Fee Schedule.

Also, each SMSF is liable to pay an annual ATO Supervisory Levy.  The levy amount is $259 per year and is paid to the ATO. This amount is unavoidable and is paid when the SMSF lodges its annual income tax return. The amount is doubled when the first SMSF tax return is lodged as the ATO requires the levy paid in advance.

When an SMSF has a special purpose company as a trustee, an Annual Review fee is payable to ASIC each year on the anniversary of the company’s registration.  This amount is currently $56 through to 30 June 2021 and is indexed every 1 July. Refer to the ASIC website for the current annual review fees.

By completing an SMSF establishment application with Stake SMSF, you acknowledge that your SMSF will incur the above fees.

Appoint of Agents and Auditor

As part of the Stake SMSF establishment application, you also agree to appoint our nominated Tax Agent (Grow SMSF Pty Ltd), ASIC Registered Agent (Grow SMSF Pty Ltd) and independent SMSF auditor (ASF Audits Pty Ltd) to your fund and its trustee company.

You also agree and authorise Stake SMSF Pty Ltd to replace Grow SMSF Pty Ltd as Tax Agent when the company is registered as a tax agent with the Tax Practitioners Board and ASIC Registered Agent when the company is registered as an Agent with ASIC.